|What’s the deal?|
Borrowers can obtain up to 90% financing, with up to 40% from Bay Colony at a 20-year below market fixed rate and 50% from the participating lender at a conventional market rate.
|Who can borrow?|
Almost all types of businesses are eligible. Review general eligibility requirements to see if you are eligible.
|What can the money be used for?|
Acquisition, improvement or new construction of fixed assets including owner occupied commercial real estate as well as equipment with a useful economic life of 10 years or more can be financed by a 504 loan. Almost all soft costs can be included.
|How large (or small) could the project size be?|
The total project costs generally cannot be lower than $250,000. While there is no maximum limit on the total project costs, Bay Colony can lend up to $5 million ($5.5 million in certain cases).
|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. Client satisfaction is the cornerstone of our values.
|Where is financing available?|
We serve businesses in all Massachusetts, Vermont and Rhode Island counties, and several counties in New Hampshire and Connecticut. View counties on a map.