4.76% 20-Year Debenture
4.49% 10-Year Debenture
SBA 504 Loan Program - Statewide Financing Available for Buildings & Equipment
The Oakland County Business Finance Corporation (BFC), certified by the U.S. Small Business Administration (SBA) since 1982. The BFC is a proven and reliable partner with the SBA, lenders and businesses. The BFC's non-profit mission is to help businesses expand and stimulate economic growth in the community.Eligible Businesses
- Owner-occupied, financially stable, for profit businesses in Michigan
- Net worth of less than $15 million
- Average annual net profit (after tax) of less than $5 million
- Land acquisition and improvements
- Building acquisition, construction, and renovation
- Related soft costs
Approximately $150,000 to $13 million. SBA maximums are $5 million for regular loans and $5.5 million for manufacturing and energy loans. Typically 40% from the SBA and 50% from a local bank.
The SBA portion is 10 or 20 years, and the bank portion in 7 or 10 years.
10% of project costs (15-20% for special purpose buildings or start-ups).
The assets being acquired, plus a personal guarantee by business owners.
Program fees can be financed.