Key Programs

We assist small businesses through 2 key programs, the SBA 504 loan program and CDFI loan programs.

We assist businesses that:

  • Qualify for traditional bank loans but need better terms to grow
  • Can secure only part of their financing through a bank
  • Are not yet eligible for bank lending

BEFCOR’s Loan Programs

Our SBA 504 and CDFI programs uniquely address the needs of NC’s growing small businesses.  Give us an opportunity to discuss a financing need, and we will help determine which options are best. 

Below is a general comparison of SBA and CDFI Loans – BEFCOR can advise which is best for each business loan request:

CDC – SBA 504 Loan

Backed by: U.S. Small Business Administration (SBA)
Loan Amounts: $25,000 to $5,500,000
Fixed asset financing and refinancing

BEFCOR is certified as a Certified Development Company (CDC), allowing us to deliver the SBA 504 Loan Program.

SBA 504 Loans

CDFI – Community Development Loan

Backed by: U.S. Department of the Treasury
Loan Amounts: $5,000 to $150,000
Various loan uses

As a Community Development Financial Institution (CDFI), BEFCOR also offers flexible, community-focused loan options.

CDFI Loans

Often, small business owners approach a bank or traditional lender when they need growth financing.  Many, however, discover that banks cannot provide the full request at favorable terms. BEFCOR can help by offering options – great options – to help businesses get approvals for low cost financing.

Getting Started with BEFCOR

Contact us to determine which BEFCOR program is right for you.  Having the following items will help US help YOU:

  • Type, location, and age of business
  • Total amount and uses of Financing:  Property, Machinery, Working Capital, etc. 
  • Timing of loan request – contract deadlines, etc.

If you need assistance determining the amount of financing, consider these options:

Understanding the unique needs of your small business will help us identify options quickly and accurately.

To get started, we review the following general categories of information to better assist you, the business owner.  The more details we have, the more effectively we can support you through the lending process.  We ask questions, gather details, and provide comprehensive support to ensure your business gets the financing it needs. 

Loan approvals are based on several factors, including: