SBA 504: Help For Veterans Seeking Commercial Real Estate Capital
This Veterans Day, let’s remember that servicepeople in the commercial real estate industry have a few extra benefits when it comes to obtaining capital and credit. In a tight market for capital, that can make all the difference at the deal table — especially for owner-occupiers.
The Small Business Administration (SBA) 504 program offers US military veterans and service disabled veterans commercial financing for purchase of real estate that will house your business, expand, retrofit, renovate or remodel an existing facility. Funds are also applicable for refinance of an existing commercial loan as part of a business expansion.
Some terms of eligibility: A veteran-owned business is a business where at least 51% is owned by one or more veterans.
Not Limited To 504
You can browse the length and breadth of business advantages offered to veterans at the multi-departmental government business.usa.gov. Under its Resources For Veterans page, you can find a long list of benefits including business outreach, assistance in working with federal agencies, and the Center For Veterans Enterprise.
The list doesn’t stop there. CVE and other sites provide a wealth of information for vets in business and commercial real estate: an enduring government thank-you for those who answered the call to service.