Twin Cities-Metro


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Twin Cities-Metro

 

 
 

Eligibility
Loan Process
Loan Requirements
Loan Fees

TCM CDC was certified in 1990 by the U.S. Small Business Administration (SBA).

TCM has assisted thousands of small business owners, representing projects totaling in excess of one billion dollars, through utilization of the SBA’s 504 loan program.

The SBA 504 loan program, in combination with the participation of financial institutions, provides financing for the acquisition or expansion of owner-occupied commercial real estate or for the purchase of capital equipment.

TCM also provides SBA loan packaging services through our affiliate, Westbrook Financial (763.550.9030 or Contact TCM). Our staff has extensive expertise in all SBA Loan programs, including the 7(a) Guaranty Loan, Low-Doc, SBA Express, Export Working Capital Program (EWCP) and the Seasonal Line of Credit.

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Key advantages of the SBA 504 Loan Program include:
Low down payment.
Down payment is typically 10% of the total project cost.
90% Financing.
Maximum SBA Loan is $1.5 million, $2 million if the project meets at least one economic development objective, or $4 million for manufacturers.

Longer repayment term.
Real Estate Loans have a 20-year term.
Low interest rate fixed for entire term of Loan.
 
 
Use of Funds  
Land and Building $975,000
Soft Costs and Contingency $25,000
Source of Funds  
50% First Mortgage $500,000
40% 504 Loan - Second Mortgage $400,000
10% Owner's Equity Injection $100,000
TOTAL USE OF FUNDS $1,000,000
TOTAL SOURCE OF FUNDS $1,000,000