Success Stories

SBA 504 Borrower | After our initial meeting with BEFCOR’s team, “what stood out the most was the team’s ability to simplify the 504-loan process for us,” as everything was “broken down clearly” and it was evident they had “a deep understanding and expertise,” which made the process much easier. Compared to the banks, where support can be limited, “banks have a hard time offering the level of support and specialization that the BEFCOR team offers,” and BEFCOR guided us through the documentation, “answering questions and providing hands-on support.” For businesses considering a 504 Loan, the program “offers a powerful combination of below-market interest rates and long repayment terms, which assist with preserving cash flow,” and “if you're thinking long-term and want to build equity in your business instead of paying rent or leasing, the 504 Loan could be a real game-changer!”

SBA 504 Borrower | "We have worked with BEFCOR since 2016 for all our SBA 504 needs. We have found them very easy to work with and a great partner in the financial side of our business. Their deep knowledge of SBA loans has made the application process clear and precise and helped pave the way to our successful applications. Their quick responses to our requests for information and support of the loans, after the successful application process, has always been spot on. We can strongly recommend BEFCOR to anyone seeking information or wanting to apply for an SBA loan, because of the great working relationship we have shared with them and their real commitment to us as a client."

SBA 504 Borrower | After my initial meeting with BEFCOR’s team, my impression was that “these folks were friendly and looking to help in whatever way they could.” Compared to the banks, “everything was straightforward and simple and well explained from the start,” which made the application process much easier to navigate. My favorite part of working with BEFCOR was that “the people were gracious and clearly doing things to help businesses through good gov't loans.” To businesses considering a 504 Loan, I would say that “the interest rate should be better and they can help small banks that otherwise might not finance a deal to divide risk for a split loan,” and that the program “wasn't complicated as BEFCOR handles the hard part.”

CDFI Borrower | "BEFCOR means a lot to me, and I truly and personally thank them for helping me secure a loan for my small business. BEFCOR is the best—they care about small business, are professional, and know how to help with every need from finance and marketing to education and great webinars. My business has grown on every level because of BEFCOR, as they make the loan process very swift and helpful, give you all the tools you need to be successful, and have some of the best team members. I am very happy they helped me to be successful. God bless BEFCOR."

CDFI Borrower | "When I got the call from BEFCOR that I was approved for a CDFI loan, a weight was lifted off my shoulders. After being turned down by traditional banks, they gave me the stability I needed to move forward with opening my yoga studio. I always tell other North Carolina businesses to look into BEFCOR because they’re personable, great to work with, truly care about your success, and—as a CDFI—can offer terms other banks cannot. With their support, I was able to complete the buildout of my first brick-and-mortar studio, open the doors, and grow to over 140 members. BEFCOR went above and beyond to make sure I understood every step, and they were the only ones who recognized how much my small business means to me instead of telling me I was too small to be worth their time."

CDFI Borrower | "We are incredibly honored and grateful to have received the CDFI loan from BEFCOR. As small business owners, this opportunity was more than just financial support. It gave us confidence in our mission and vision while allowing us to impact our community. Receiving the funds allowed us to grow our salon and suites business, enhance the experience for our clients and beauty professionals while committing to excellence in the beauty industry. It allowed us to upgrade our facility to create more opportunity and space for independent beauty professionals. To put it short, it really helped us to reach the next chapter of our story. Thanks, BEFCOR for your team and outstanding support."

CDFI Borrower | "We wholeheartedly recommend other North Carolina small businesses to consider working with BEFCOR. Their commitment to helping local entrepreneurs thrive is genuine and the process is one of trust, encouragement, and empowerment. We had a wonderful experience working with Audrey, Reginald and Shannon. They are patient and supportive. Small businesses need to know that there are programs out here like BEFCOR & CDFI’s that supports the small business owners."

CDFI Borrower | "The CDFI Loan from BEFCOR meant growth for us—it helped us purchase a new, larger ice cream machine and the equipment we needed to open our much-awaited second location. We are so appreciative and grateful for the BEFCOR team. I absolutely recommend them to other NC businesses because they provide help and answers along the way and offer options that support small businesses that don’t have infinite capital. Thanks to the loan, we were able to open our second location and serve a greater community. Yes—BEFCOR truly provided everything we needed. Thank you, BEFCOR!"