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Maine Street Mortgage
Distance: 44.5 Mi176 USRoute 1
4032 Freeport -
RDB Construction
Distance: 59.9 Mi155 Center St
04210-5229 Auburn -
Finance Authority of Maine
Distance: 83.9 Mi5 Community Drive
4332 Augusta
Granite State Development Corporation
- 183 Newhall Rd
- Wells, Maine
- 04090
- Phone: 1 207 646 5988
- Website
Website Links
Description
Initially the geographic territory was limited to 3 counties in the state of New Hampshire. In 1985, we became an independent Certified Development Company (“CDC”) and in 1986 expanded territory to include the entire state of New Hampshire. While expansion is restricted by SBA certification, Granite State Development has grown to provide statewide coverage for all of Northern New England.
Working in conjunction with a conventional bank the SBA 504 program allows your project to be financed with just a 10% equity injection from you. Typical bank financing requires 20%. This will differ if your business is a start-up and/or the property is determined to be single purpose, such as a hotel. An additional 5% down is required for each. With financing available for up to 90% of the project cost, SBA 504 loans offer an affordable down payment, enabling the entrepreneur to conserve working capital and retain liquidity to meet operating needs.