EXTON, PA — For a fourth consecutive year, Seedcopa + SeedcoDE has been ranked as the #1 SBA 504 Lender in Eastern Pennsylvania by the U.S. Small Business Administration, attaining the most SBA 504 loans for small- to mid-sized businesses in the region.
According to the SBA Eastern PA District Office’s year-end loan volume reports:
- Seedcopa supported 29 small business owners in fiscal year 2023 with SBA 504 loans
- Loans spanned 13 counties: Berks, Bucks, Chester, Dauphin, Delaware, Lancaster, Lehigh, Luzerne, Montgomery, New Castle, Northampton, Philadelphia & York.
- 34% of businesses assisted were women owned
- 17 banks partnered with Seedcopa to make the loans possible
- Total SBA 504 loan projects were $23,226,000
“In a year where interest rates have progressively increased, Seedcopa’s loan volume has remained impressive,” said Seedcopa Managing Director Sherwood Robbins. “This is a testament to the enduring value of the below-market, fixed-interest rates offered by the SBA 504 loan program to small and mid-sized businesses, ensuring that they can continue to buy, build and improve on commercial property, as well as 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. A typical SBA 504 loan structure requires a contribution from the business owner of only 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%.
For additional resources, check out Seedcopa’s complete list of recent loan fundings, as well as business success stories including a new counseling center, 16,000-foot gymnastics facility, and thriving taxidermy studio. You can also meet the Seedcopa borrower named “Small Business Person of the Year 2023” by the U.S. Small Business Administration.
A complete list of Seedcopa’s suite of loan programs and success stories can be found at https://seedcopa.com/.
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