From heavy machinery to furniture and fixtures, we have solutions to meet all your equipment financing needs.
SBA 504 loans are one of the best alternatives available if what you need is purchasing or updating equipment for your company.
Read on to discover the benefits of this equipment financing option and how Gellyfish can help you get the assets you need to grow your business.
What Are SBA 504 Loans?
Also known as SBA CDC/504 loan, this financing option guaranteed by the Small Business Administration (SBA) can be used to purchase heavy machinery/equipment or to buy, build, or renovate commercial real estate properties.
What Equipment Can Be Purchased With an SBA 504 Loan?
You can use an SBA 504 loan to purchase for your business any hard asset that has a useful life of at least 10 years. This wide spectrum of potential acquisitions includes, without being limited to:
Large format printers
Fixtures and furnishings for hospitality structures
Find the Equipment Financing Solution that Works for You
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What Are the Differences Between SBA 7(a) Loans and SBA 504 Loans?
While 7(a) loans are capped at $10 million, 504 SBA loans can range from $125,000 to $20 million.
The interest rates on a 504 loan are fixed, while 7(a) loans have predominantly variable rates (although there are some fixed-rates options as well).
Finally, the down payment for a 504 loan is 10 percent. By contrast, with 7(a) loans the minimum down payment is 10 percent, but you may be required to pay more than that.
Certainty of Execution in SBA 504 Loans for Equipment Financing
At Gellyfish, our mission is facilitating commercial cash flow with an approach that privileges speed, flexibility, and certainty of execution.
We are located in Riverside, California, and work with companies of all types and sizes.
Get started on an equipment financing solution that works for you. Call us at (877) 800-4493 or fill out the online form for a free quote or to learn more about our services.
Commercial Real Estate Financing
At Gellyfish Commercial we offer a broad spectrum of commercial real estate financing options. Our deep expertise and decisive approach allow us to provide our clients with effective financing solutions tailored to the Southern California market.
Running a business is a challenge, and one of the most daunting aspects is financing. Luckily, at Gellyfish Commercial we make it easy for you to get the capital you need to move your business forward.