SBA Loans

The U.S. Small Business Administration (SBA) was established to help businesses secure financing. SBA programs reduce risk for lenders and enables easier access to capital. There are two primary SBA financing programs offered; the SBA 504 program which offers attractive real estate and equipment financing; and the SBA loan guarantee program which offers a more flexible use of funds. These are great complementary programs that are often used together to fully meet business financing needs. 

Typical financing structure of the SBA 504 program

Business Lending Partners (BLP) provides up-front eligibility screening services to determine if a small business meets the general criteria to qualify for an SBA loan. Contact BLP today to discuss your project.

    Why SBA 504 Loans?

    Lenders' Benefits

    Borrowers' Benefits

    1. No Application Fee
    2. Pre-Qualification
    3. BLP Application
    4. BLP Approval
    5. SBA Approval
    6. SBA Authorization
    3-4 Weeks From Full Application

    1. No Application Fee

    Business Lending Partners (BLP) provides up-front eligibility screening services to determine if a small business meets the general criteria to qualify for an SBA loan.

    2. Pre-Qualification

    Business Lending Partners (BLP) provides up-front eligibility screening services to determine if a small business meets the general criteria to qualify for an SBA loan. Contact BLP today to discuss your project.

    3. BLP Application

    A BLP representative will work with the small business and the participating lender to collect all required documentation.

    4. BLP Approval

    BLP will structure the loan within SBA’s guidelines and perform analysis on the creditworthiness of the company.

    Loan Approval recommendations will be made by BLP’s Loan Advisory Committee and Board which meet weekly.

    5. SBA Approval

    The loan application will then be submitted electronically by BLP to SBA once all remaining documentation is collected, signed, and dated by the loan applicant. This process typically occurs the same day Executive Committee approval is received.

    6. SBA Authorization

    SBA will issue its Loan Authorization upon approval which outlines the terms and conditions of the SBA financing.

    3-4 Weeks From Full Application

    One of BLP’s loan officers will work with the small business and the participating lender to collect all required documentation that should include: a business plan, resume, financial statements, debt schedules, financial projections, tax returns, and other funding commitments.

    Recent Business Lending Partners News

    RCEDC and its finance team, Business Lending Partners (BLP), in partnership with Fox Communities Credit Union, has assembled an unparalleled lineup of industry experts, self-made entrepreneurs, and business leaders to deliver an event tailored to business owners, the commercial lending community and real estate professionals. Food included.

    For the last few years, the financing needs of Wisconsin businesses have been on the rise. To meet the challenge, Business Lending Partners (BLP), the financial division of the Racine County Economic Development Corporation (RCEDC), has added staff.

    Join RCEDC as we host this food and business networking event, where local business owners share their stories about how they navigated the path to success.

    Trene McCaskill, owner of H.E.R. Valley - a self-care and revitalization service in Racine - will celebrate the grand opening of her new location at 904 State St. on July 9th at 11:45 a.m.

    To help encourage business improvement, retention and attraction, the Village of Sturtevant created a new program with favorable loan terms - little to no equity requirement, low-interest, and principal deferrals.

    The newest Racine County grant, the Community Development Block Grant Program (CDBG) was launched in late 2021. Nearly $72,000 has been approved for businesses throughout Racine County that were negatively affected by the pandemic. Fortunately, there is still $330,000 available.

    Creative Welding & Fabrication previously leased most of the space at 120 Industrial Drive in Burlington. After learning about the U.S. Small Business Administration's (SBA) 504 program, owners Roger Baumeister and Jeremy Uhlenhake decided to purchase the building, which allowed them to expand operations and begin collecting rent from existing tenants.

    Raising capital to grow your business can be challenging. Should you use debt? What programs are available through RCEDC? Are there more options? Join RCEDC as we explore the opportunities from venture capital to determine when this solution is the…

    SBA 504 Rates January 2022

    This year, Jellystone Resort in Caledonia was named the "Resort of the Year" by the Jellystone franchise. This award is given to one location per year and the Jellystone franchise is especially happy about the expansion and projects Jellystone Caledonia has completed the past couple of years to aid in the client's demands for the park.

    Asphalt Contractors Inc. (ACI), owned by Robert, Robert Jr. and Peter Kordus, a once primary sealcoating operation, recently evolved into the largest company of its kind in Southeast Wisconsin - using the SBA 504 loan program

    Dan Gallagher started Mybread Bakery with a mission to provide gluten-free breads that are safe for those with food allergies, but not compromise taste or quality. Three years later, Gallagher relocated from Chicago to Racine - with help from the Racine County Economic Development Corporation - and expanded operations by renting a larger space, purchasing better machinery, and hiring additional employees.

    INVEST IN RCEDC

    RCEDC’s mission is to grow Racine County’s property tax base and by supporting business expansions, provide employment opportunities to Racine County residents. In 2021, RCEDC staff were able to facilitate 95 projects that included comprehensive site selection, loans, grants, and incentives resulting in $360 million in private investment and $210 million in new construction. These business expansion projects will result in 500 new full-time jobs.

      This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept