Business Finance Capital Services $148M in SBA 504 Funding in LA
LOS ANGELES — Business Finance Capital (BFC) has serviced more than $148 million in SBA 504 funds in Los Angeles so far in 2017. The certified development company has completed a total of 106 SBA loans, which are designed to assist businesses seeking finance mechanisms such as real estate and machinery.
The program works by distributing the loan across three parties: a conventional lender (50 percent), a nonprofit certified development company such as BFC (40 percent) and the buyer (10 percent). BFC also services the 504 Refinance Program.
BFC services a range of industries, including wholesalers and distributors, manufacturers, assisted living facilities, hotels, law practices, medical and dental offices, car washes, construction companies and more.