Recently Funded Deal: Produce and Grocery Distributor
The 504 Company lends to business in need of larger warehouse space to meet demand from new customers, including Blue Apron.
A woman- and minority-owned business was experiencing 7% historic sales growth and operating from a cramped 10,000 square foot warehouse space with no loading docks. A partner bank referred the owner to The 504 Company and the local loan officer recognized the fit for an SBA 504 loan.
The SBA 504 Loan program supported $1.03 million of a $2.57 million project to allow the business to purchase property. The property is a 20,000 square foot warehouse with loading docks, which allows for increased efficiency and the ability to purchase in greater volume.
The new property will be used as the primary warehouse while the original property will act as additional storage to serve Metro NY customers.
- Loan supported the continued growth of a business with 45 employees.
- The funded project created 20 jobs directly.
Have a deal to discuss? Contact a loan officer today.
ABOUT THE 504 COMPANY
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.