In December 2012, the 20 year “all-in” fixed rate for 504 loans fell below 4.0% for the first time in the history of the program. Also, the 10 year rate, which adjusts every two months, is at a record low, hovering just above 3.05%. It is a great time to use the 504 program. In [...]
Welcome
| What's the deal | Borrowers can generally obtain 90% financing. Bay Colony's portion is a fixed rate for 20 years. 40% from Bay Colony at a 20-year fixed rate (below market), and 50% from the participating lender at conventional market rates. Learn more. |
| Who can borrow? | Almost all types of businesses are eligible. There are very few exclusions. Review general eligibility requirements or use our online tool to check your eligibility now. |
| What can the money be used for? | Acquisition or improvement (including new construction) of fixed assets with a useful economic life (not depreciable life) of ten years or more . Most projects involve acquisition of owner-occupied real estate, but equipment is also eligible. Almost all soft costs may be financed as well. |
| How large (or small) should the project size be? | The total project cost is $250,000-6,000,000 (up to $10,000,000 for a manufacturer). However, larger projects are eligible. |
| Why Bay Colony? | As a leading provider of SBA 504 Financing since 1981, we are one of the nation’s oldest and most experienced Certified Development Companies. Streamlined processing and fast responses; Client satisfaction is the cornerstone of our core values. Learn more. |
| What areas do you serve? | We serve businesses in all Massachusetts counties, as well as several counties in Vermont, New Hampshire, Rhode Island, and Connecticut. View counties on a map. |
