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Exton-based firm attains most SBA 504 loans in 2022
Attaining the most SBA 504 loans for small- to mid-sized businesses in the region, Exton-based Seedcopa has been ranked as the leading SBA 504 Lender in Eastern Pennsylvania by the U.S. Small Business Administration for a third straight year.
Seedco has offices in Exton and Wilmington.
SBA 504 loan structure typically requires a contribution from the business owner of just 10%. A third-party lender, like a bank or credit union, contributes 50% of the project cost. The SBA-backed portion of the loan is 40%.
Through its flagship SBA 504 loan program, Seedcopa helps businesses obtain government loans at below-market, fixed-interest rates for buying, building, or improving owner-occupied commercial property or to purchase machinery and equipment.
According to the SBA Eastern PA District Office’s year-end loan volume reports:
- Seedcopa supported 46 small business owners in the past fiscal year with SBA 504 loans.
- Loans spanned 10 counties: Berks, Bucks, Chester, Delaware, Franklin, Lancaster, Lehigh, Montgomery, Philadelphia, and York.
- 37% of businesses assisted were minority owned, women owned, or veteran owned.
- The average SBA 504 loan was $896,217.
- Total SBA 504 loan projects were $41,226,000.
- Total projects were about $4 million higher than in the previous fiscal year.
The U.S. Small Business Administration announced that in December 2022, the SBA 504 Program reached more than $100 billion in all-time loan fundings. The total impact includes financing from third party lenders and has supported over $250 billion in local economic development across the nation.
Seedcopa helps businesses attain the financing they need through SBA 504 loan projects to purchase, construct, renovate or expand on new or existing land, as well as to purchase machinery and equipment. SBA 504 is the Small Business Administration’s fixed-rate loan program for small- to mid-sized business owners, and such loans often act as a complement to conventional, commercial loans that Seedcopa facilitates through local banks and credit unions.
