Chamber News

SEED Is a Top
SBA 504 Lender

SBA 504 Program 

• Bank provides 50%; SEED provides up to 40%
• Fixed Interest Rates as of July:
  5.17% for 20 Yrs (Note Rate of 3.86+ 1.31)
  3.84% for 10 Yrs (Note Rate of 2.53 + 1.31) 
• No Up Front Deposit / No Application Form 
• Up to 90% Financing to Buy, Construct or Improve Commercial & Industrial Buildings or Buy and Install Heavy Machinery & Equipment
• Refinancing of Existing Fixed Asset Debt up to 50% of Project 
• 24 Hour Pre-Qual. /3 Day SBA Approval 
• Other Loans up to $200,000 @ 5% Fixed for Working Capital and Other Uses 
• Most Businesses Are Eligible

Please Call Lisa, Susann, Frank, Paula or Laurie with Your Small Business Projects in MA & RI.

 508-822-1020 

SBA 504 Loans Recently Closed

·         T.E. Spa
Norwood, MA
Participating Bank:  Bridgewater Credit Union
Project Total: $230,000
504 Loan:  $96,000
Project:  Land Purchase & Construction

·         Dr. Stephen J. Kerr, DMD, PC
Plymouth, MA
Participating Bank:  Rockland Trust
Project Total: $1,300,000
504 Loan: $528,000
Project: Land & Building Purchase & Construction 

·         Frame Center of Nantucket, Inc.
Nantucket, MA
Participating Bank: Community Bank
Project Total: $672,000
504 Loan: $207,000
Project:  Land & Building Purchase

·         L&W Auto Body
Randolph, MA
Participating Bank:  Randolph Savings Bank
Project Total: $1,300,000
504 Loan: $527,000
Project: Land Purchase & Construction

About SEED

SEED Corporation is a non-profit economic development organization certified in 1982 by the U.S. Small Business Administration.  Under various programs, SEED makes loans from $1,000 up to $4 million to assist small businesses to grow and create jobs throughout the region.

This past year, SEED made 117 small business loans totaling $33.6 million, leveraging over $50 million in bank financing and private funds, and assisting in the creation of 593 new jobs.

SEED also provides business assistance and works with other economic development organizations and financing institutions in the region to ensure that individuals who are committed to owning and operating a small business are able to obtain the assistance they need to be successful.

For more information on the SBA 504 Program and other loan programs, please call 508-822-1020 or visit us online at www.seedcorp.com.