Manufacturing rebound fueled by 504 loan program
Posted on July 13th, 2015

Helping manufacturers grow and succeed continues to be an important part of the 504 loan program administered by the EDC Small Business Finance throughout Missouri and Metro East in Illinois.

In July, we issued a $1,270,000 loan through the 504 program to a regional manufacturer which helped them make a total new investment of more than $3 million. As a result, 22 jobs will be created or retained over the next two years.

This debenture also pushed EDC-SBF over the $200 million mark in 504 loans issued during the past 15 years for the Eastern Missouri Region.

Over the past year, 22% of all our 504 loans have been to manufacturers or companies that directly support the manufacturing industry. Thank you to all of our community, banking, and business partners for making this success possible and for helping manufacturing rebound in the region and across the state!

The 504 program works for lots of different kinds of businesses, especially manufacturers. With guaranteed fixed rates lasting 10 and 20 years for equipment and buildings, it offers great interest rate security over the life of your loan. Up to 40% or $5.5 million can be financed through the EDC-SBF for any manufacturing project.

Expand your capacity with as little as 10% down through the 504 program, while keeping as much of your hard-earned capital as possible.

Decrease in July Rates

Interest rates decreased for both the 10 and 20 year 504 debentures in July. The 20 year fixed rate went down to 4.85% and the 10 year fixed interest rate went down to 4.32%.  Clearly it is a great time to use a 504 loan to expand while saving money and streamlining your long-term cash flow.

Here to Help

The nationally-recognized staff of EDC Small Business Finance are just a phone call, email, or text away when you have questions or need our assistance with business financing.

Please contact: Mark Diliberto (636.229.5279), Justin Schulz (636.229.5276), Debbie Wissmann (636.229.5280) and Amy Gordon (636.229.5278).

EDC Small Business Finance is ranked second in overall SBA lending for fiscal 2014 in metro St. Louis, according to the St. Louis Business Journal Book of Lists.

Original article can be found here.

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