SAN DIEGO—On April 21, the Small Business Administration (SBA) will eliminate restrictions that prevented small business owners with a high-net worth to purchase commercial real estate with a SBA-504 loan.
The 504 loan can also help business owners buy and install heavy machinery and equipment, and in one case, it will help a San Diego-based manufacturer of aerospace/defense industry components, purchase a 21,000 sq. ft. building.
“These new changes will allow more small business entrepreneurs to take advantage of SBA-504 financing to buy or construct their facilities,” said Kurt Chilcott, president and CEO of CDC Small Business Finance, the largest SBA-504 lender in the U.S. “Helping more small businesses grow will help create more jobs and, as a result, improve the economy.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
