Trevor Cole Commercial Corp. focuses on raising capital for businesses and real estate investors. Based in Stamford, Connecticut, Trevor Cole Commercial Corp. also participates in Small Business Administration (SBA) loans. Founded in 1953, the SBA strives to assist small businesses and grow the nation’s economy with loans, counseling, and other services. In fiscal 2021, it lent some $44 billion through over 61,000 loans. It offers three options for borrowers:
7(a) Loans The most popular SBA program, 7(a) loans are often used by business owners seeking to purchase real estate. They can also be used to obtain working capital, refinance debt, and buy supplies and equipment. Recipients must operate for profit within the United States and have a reasonable amount of existing equity. Applicants must also be drawing on other sources, such as personal assets. The maximum allowed loan is for $5 million. 504 Loans Intended to create jobs and expand businesses, 504 loans are available to companies with a tangible net worth of less than $15 million and have an average net post-tax income under $5 million after federal taxes for the previous two years. Possible uses include buying or purchasing land or buildings, improving streets and parking lots, and many others. 504 loans cannot be used for speculation or investment in real estate, handling debts, and obtaining capital. Microloans On a smaller scale, the SBA makes microloans up to $50,000 for small businesses wishing to expand. Qualifying nonprofit child care agencies are also eligible. The program works through designated intermediary lenders who provide guidance and technical assistance. To learn more about SBA products, visit sba.gov.
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AuthorTrevor Cole Commercial Corporation of New York City specializes in procuring funding for large real estate projects, including multifamily properties and office buildings across the nation. Archives
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