-
“When you’re running a practice and buying a building at the same time, you need people you can trust..”
Deb Telles
Cardiovascular Associates -
“The bank and CDC were amazing. Their teamwork exceeded my expectations and they bought into our dreams..”
Salvador Garcia
Owner
Graphicom Digital -
“With interest rates low and building costs rising, the timing seemed right to buy our own building..”
Randy Mintz
Owner
Z Sports -
“I partnered with CDC because they have the expertise to provide immediate answers for my clients..”
Richard Willner
Business Community Capital -
“The people at CDC held our hands as we walked through the SBA process..”
Gurchuran “Gogy” Sandher
Owner
Saagar Fine Cuisine -
“My bank suggested SBA-504 financing because of the low down-payment, which allowed me to save my cash for the business..”
Jim Tankersley
Owner
Laser-Tronics -
“I use the 504 program because it’s good for my clients. I use CDC Small Business Finance because they’re reliable and provide excellent service..”
Lan Ward
Senior Vice President
California Bank & Trust -
“CDC was the key to us getting what we consider a ‘killer’ deal. CDC staff were honest, straightforward and always quick to respond..”
Randy Ling Tan
General Manager
G.L. Food Wholesales -
“CDC Small Business Finance provided a turnkey solution and timely service..”
Brett Noss
Chief Financial Officer
Advantage Mailing -
“We were confident in our business plan and put our faith in the high-energy people at CDC..”
Kayla Sharp
Chief Executive Officer
Spectre Industries
FAQ
Why is my payment higher than the amount shown on the note?
Your payment includes fees being paid to SBA, Central Servicing Agent and CDC (that’s us). These fees are adjusted downward at 5-year intervals.
Why is the rate on my loan different than what was estimated during the loan process?
The rate on the loan is determined approximately one week prior to the date the loan is funded and is based on current market conditions, which fluctuate. Typically they follow the trends of treasury rates. The loan is pooled with all of the other 504 loans funded in the same month and sold in the form of debentures.
How do I know what I paid in interest and fees for last year?
Your amortization schedule will provide accurate information regarding interest and fees as long as payments are paid in a timely manner. Also, you will receive a notice by January 31 itemizing interest and fees paid for the prior year.
How can I pay off my loan?
Prepayments on SBA-504 loans are only accepted on the 3rd Thursday of each month. CDC needs at least 15 days advance, written notice from the borrower. Please provide a letter to CDC with the following items:
- Month and date the loan is to be paid off (a 3rd Thursday)
- SBA loan number(s) and property address
- Your contact information, including phone number, email address and/or fax number
- New mailing address if you will be moving from the property address referenced above
- Escrow (or bank) contact information if applicable
Date and sign the letter and send to:
Margaret Roberson
mroberson@cdcloans.com
619.764.4718 fax
Can I pay off my loan early?
Yes, but there is a pre-payment premium for the first 10 years of your loan. It declines each year. You can minimize the interest due by pre-paying your loan the month before your semi-annual date.
Can I refinance my first trust deed loan without pre-paying my SBA loan?
Generally, your first trust deed loan from a bank or other lender has a higher interest rate than the SBA 504 loan. If you decide to refinance this first mortgage, CDC will subordinate your SBA loan to a straight refinance of your first trust deed loan. Cash-out may be allowed if the proceeds are used for building improvements. CDC charges no fees for this service.
Is my loan assumable?
If you are selling the building, a qualified buyer can assume your loan for a $1,000 assumption fee. The pre-payment penalty does not apply in this instance.
