Recently Funded Deal: Eye Surgery Center
The 504 Company Supports a Business In Need of Additional Space to Meet Growing Demand
A veteran-owned eye surgery center located in New Rochelle, NY was experiencing sales growth and space constraints at its current adjacent co-op space. The business’s banker referred the owner to The 504 Company, and a loan officer recognized the fit for an SBA 504 loan.
$596,190 in SBA 504 financing paired with an $851,700 conventional loan allowed the business to purchase and renovate adjacent co-op space. The previous space was approximately 2,500 square feet and the new space allowed the business to double its footprint to nearly 5,00 square feet. The loan also funded renovations so the business could bring the entire surgery center into compliance with current ADA access standards.
The business has grown past their expectations, while also increasing revenue as a result of their expansion in size and renovations. Additionally, the project created four jobs a—the business now supports 23 employees from the local community.
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About The 504 Company
We are mission-driven alternative lenders that provide creative financing solutions to help are We are mission-driven alternative lenders that provide creative financing solutions to help small businesses thrive. Throughout our 61-year history, we have provided thousands of small businesses—including start-ups, mature businesses, and minority- and women-owned businesses—with access to loans when they do not meet the requirements for traditional financing. We offer access to a suite of financing options that includes SBA 504 and Community Advantage loans, as well as online alternative loans, throughout New Jersey, New York, and Pennsylvania.