SBA 504 Loans BFC

SBA 504 Loan Program

Statewide Financing Available for Buildings & Equipment

Need an Experienced SBA 504 Loan Partner?
We care about your success & work hard to help you win.

Why choose the BFC?
500 We have funded 500+ SBA loans
Over 42 Years of Experience
Serving all of Michigan

SBA 504 provides:
house Real estate & equipment financing
fixrate Fixed rates on 10, 20 or 25 year terms
dollar As little as 10% down payment
building Commercial mortgage refinancing

Let’s team up and make great things happen!

The Oakland County Business Finance Corporation (BFC) is certified under the Small Business Administration’s (SBA) Certified Development Company program since 1982. The BFC acts as an agent to analyze, package, and submit loan requests under the SBA 504 program. As well as the servicing agent for the approved loans.

The SBA 504 loan program provides qualified small and medium size businesses with long-term, fixed-rate financing for the acquisition or construction of fixed assets.

The BFC is a proven and reliable partner with the SBA, lenders and businesses. The BFC's non-profit mission is to help businesses expand and stimulate economic growth in the community.

May Rates

25-Year Debenture: 5.95%

20-Year Debenture: 6.01%

BFC Highlighted Business

Neil King Physical Therapy - Purchased the Building with SBA 504

Clients Served

595

22,810

$64,174,732

Approved Loans

Jobs Created

In Investments

Oakland County BFC serves all of Michigan. We have funded 500+ loans in 13 counties.

Map of BFC served counties

More Information

SBA 504 Training Opportunity
SBA 504 Loan Program Fact Page
The ROCC Pod - Listen to the Podcast: How to Find Money for Your Business

BFC Sponsorship Highlight

Planners Gathering: Oakland County Business Loan Programs

Healthy, expanding, for-profit businesses. Net worth of less than $20 million. Average annual net profit after tax less than $6.5 million.

Land Acquisition
Land Improvements
Building Acquisition
Building Construction
Building Renovation
Machinery and Equipment
Refinancing
Related Soft Costs

Current on the loan for at least 12 months
Debt for fixed asset such as building and equipment
Existing note/mortgage is at least six months old, in most cases
Up to 100 percent financing available
Due diligence fees can be financed
Owner occupied
Ability to refinance existing SBA loan

Approximately $250,000 to $13 million+. SBA maximums per project:

$5 million for regular loans
$5.5 million for manufacturing and energy loans

The SBA portion is 10, 20, or 25 years, and the bank portion in 7 or 10 years.

10% of project costs (15-20% for special purpose buildings or start-ups).

The assets being acquired, plus a personal guarantee by business owners.

A one-time, up-front fee paid by the bank equal to 1/2 of 1% of the bank’s portion
A one-time processing fee of 2.15% of the SBA’s portion of the loan
An ongoing service fee of 1.5% of the SBA’s portion of the loan
Closing fees of about $3,000
Most of the fees can be financed

State of Michigan

Typically 40% SBA, 50% bank/credit union

Competitive fixed rate

30 to 60 days from application