It’s October and that means a new SBA fiscal year! Want to learn about lower SBA 504 loan costs? You can count on the team at BEFCOR to be fully up to date on all the latest SBA changes. BEFCOR.com
BEFCOR - Business Expansion Funding Corporation
Financial Services
Charlotte, NC 431 followers
About us
BEFCOR is a nonprofit Certified Development Company (CDC) authorized by the U.S. Small Business Administration (SBA) to market, underwrite, close and service 504/CDC Loans in North Carolina and South Carolina. BEFCOR partners with private-sector lenders to help owner-occupied businesses to obtain up to 90% financing for commercial real estate and other fixed assets. BEFCOR supports business growth, expansion and job creation.
- Website
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http://www.befcor.com
External link for BEFCOR - Business Expansion Funding Corporation
- Industry
- Financial Services
- Company size
- 2-10 employees
- Headquarters
- Charlotte, NC
- Type
- Nonprofit
- Founded
- 1982
- Specialties
- Owner-occupied commercial real estate financing, Connecting business owners to valuable resources, Markets, underwrites, and processes SBA 504 loans for business owners, and Assists economic development organizations with developing and managing loan portfolios
Locations
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Primary
5970 Fairview Rd, Suite 218
Charlotte, NC 28210, US
Employees at BEFCOR - Business Expansion Funding Corporation
Updates
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MEET THE BEFCOR TEAM: Adam Barry joined BEFCOR in 2023 after graduating cum laude from Queens University of Charlotte with a bachelor’s degree in accounting and a minor in computing and data analytics. At Queens, he was a two-time captain of the men’s lacrosse team and represented the team on the Student Athlete Advisory Committee. We are proud to have Adam on Team BEFCOR! BEFCOR.com
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Meet BEFCOR Team Member Amber Quattlebaum. Amber joined BEFCOR in 2023 as a Loan Processor. She previously worked for the U.S. Small Business Administration as a Program Support Assistant. She is excited to continue helping small businesses gain access to capital. Amber’s hobbies include reading, writing, photography, social media, cruising, and spending time with family and friends. Amber’s experience and deep passion for helping small businesses make her a great addition to BEFCOR’s Team! BEFCOR.com
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SBA 504 loans help banks be competitive. If you are a NC Small Business Banker, be the first to suggest a 504 loan to your expanding small business customers who need a lower blended rate, less money down and financing costs included in their loan. Call one of our BDOs for a side-by-side comparison for the most competitive solutions available! BEFCOR.com
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How does BEFCOR partner with banks and their business customers? Beautifully! Bring us into the financing discussion early and we can help. We partner with banks and businesses! BEFCOR.com
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Can an SBA 504 loan include Equipment and Furniture in a new building project? Yes, and they can be included with the 25-year amortization! Better cash flow with less money down -- call a BEFCOR BDO today to see a sample project structure! BEFCOR.com
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Banks reduce their risk by partnering with BEFCOR and SBA 504 loans. Generally, banks finance 50% portion of the project cost, secured by a first lien on the financed property or equipment. BEFCOR, using SBA-backed 504 loans, finances 40%, secured by a subordinate lien. Businesses generally have a 10% down payment – which is much lower than the down payment for most conventional loans. BEFCOR.com
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The SBA 504 program encourages energy efficiency. If a small business project reduces energy consumption by at least 10%, or generates renewable energy, businesses may qualify for larger SBA 504 loan amounts. BEFCOR has partnered with many banks on these projects. Contact us to learn more! BEFCOR.com
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Did you know the SBA 504 small business loans are uniquely structured: an SBA 504 loan from an organization like BEFCOR finances up to 40% of the project cost, and a traditional loan from a bank finances 50%. The remaining 10% typically comes from the business owner's equity. Win/Win/Win! BEFCOR.com
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BEFCOR loves lending to childcare small businesses! Bankers can help their childcare borrowers finance a permanent location (instead of renting) by partnering with BEFCOR and the SBA 504 program! 504 loans finance real estate purchases with lower down payments and fixed interest rates! This can include expansion of a current facility and fixtures and equipment, too. BEFCOR.com