SBA 504 Loans
All businesses, including those businesses that have been in operation for less than two years, may qualify for a loan through the United States Small Business Administration. Working with Certified Development Companies throughout the Hudson Valley, HVFCU can process loans through the SBA 504 Loan Program. This program is designed to help growing businesses acquire fixed assets including land, buildings or equipment to help expand their business operations and create new jobs. Under this program, HVFCU lends 50% of the project cost, SBA lends 35-40% of the project cost, and the borrowing business provides the remaining 10-15% of the project cost.