IFA:
When franchisees Brad and Risa May first began to explore the options available to them for their Goddard School franchises, they assumed they would be leasing their buildings. Instead, they were delighted to find out they could finance and build their own facilities using long-term financing available through the U.S. Small Business Administration’s 504 Loan Program.In spite of the advantages of the SBA 504 loan program, it is still one of the Federal government’s best kept-but fastest growing-secrets. These special loans provide long-term (10- to 20-year) financing to small businesses for the purchase, construction, and renovation of buildings and can also be used to fund large equipment purchases. 504 loans are arranged by Certified Development Companies, funded by the sale of bonds on Wall Street, and guaranteed by the federal government through the SBA.
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