The 504 Company Earns First-Time No. 1 Ranking for SBA 504 Lending in Eastern Pennsylvania
(PHILADELPHIA, PA) – The 504 Company, a leading provider of SBA and alternative financing in Pennsylvania, New York and New Jersey, is pleased to announce that it achieved the No. 1 ranking on the U.S. Small Business Administration’s (SBA) list of SBA 504 lenders in Eastern Pennsylvania for the first time. Additionally, The 504 Company maintained its No. 1 ranking for the State of Pennsylvania overall.
In fiscal year 2017, The 504 Company more than doubled loan volume and provided 17 SBA 504 loans totaling $10.7 million to earn the No. 1 position for number of loans made. In 2016, The 504 Company was ranked No. 3 in Eastern Pennsylvania and had disbursed eight SBA 504 loans.
“This tremendous growth in the Eastern Pennsylvania market speaks to both the strength of our bank partners in Greater Philadelphia, Lehigh Valley and beyond,” said Pat MacKrell, president and chief executive officer of The 504 Company. “I applaud the efforts of our local loan officer Ashley Heaton and regional manager Jim Conroy in creating on-the-ground momentum and thank the numerous bank partners working to advance the SBA 504 loan program in Eastern Pennsylvania.”
The SBA 504 loan program is an economic development initiative that offers business loans for the purchase of fixed-assets, such as commercial real estate, equipment and machinery, at fixed, below-market interest rates. The program also offers 90 percent loan-to-value financing and up to 20 year terms. To learn more about SBA 504 financing through The 504 Company in Eastern Pennsylvania, visit www.the504company.com or contact Ashley Heaton at 215-854-6315.
About The 504 Company
The 504 Company is a leading provider of alternative financing in New Jersey, New York, and Pennsylvania. By working with our lending partners to provide small businesses ranging from start-ups in underserved markets to seasoned businesses with the capital needed start or grow, The 504 Company promotes economic development and job creation. Learn more at www.the504company.com.
As an affiliate of NYBDC (www.nybdc.com) and Excelsior Growth Fund (www.excelsiorgrowthfund.org), leading providers of small business financing, The 504 Company can also facilitate access to a suite of business financing products, including SBA 7(a) and online alternative loans.
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