The 504 Company Maintains 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 has again achieved the No. 1 ranking on the U.S. Small Business Administration’s (SBA) list of SBA 504 lenders in Eastern Pennsylvania. Additionally, The 504 Company maintained its No. 1 ranking for the State of Pennsylvania overall.
In fiscal year 2018, The 504 Company provided 17 SBA 504 loans totaling $16.9 million in the region to earn the No. 1 position for total number of loans disbursed. This marks the second consecutive year that The 504 Company earned the top ranking in Eastern Pennsylvania and Pennsylvania overall.
“Our sustained growth in Eastern Pennsylvania speaks to the commitment of our team in the market as well as to the dedication of our bank partners,” said Pat MacKrell, president and chief executive officer of The 504 Company. “Together, we have created increased market awareness for the 504 loan program and shown small business owners its benefits, which have become even more important in today’s rising interest rate environment.”
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. Loans can also be used to refinance debt previously incurred for these purposes. The program also offers 90 percent loan-to-value financing and terms of up to 25 years. To learn more about SBA 504 financing through The 504 Company in Eastern Pennsylvania, visit www.the504company.com or contact Ashley Heaton, market manager for Eastern Pennsylvania and Southern New Jersey 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.
# # #