Our new service areas in Virginia include the counties of Accomack, Arlington, Fairfax, Loudon, Northampton, and Prince William and in Pennsylvania the counties of Bucks, Chester, Delaware, Lancaster, Montgomery, Philadelphia and York.

Mid-Atlantic was created to provide existing, viable small businesses with long-term, below-market, fixed rate financing for the acquisition of real estate and equipment, for the renovation of existing buildings and for new construction resulting in the creation of new jobs. Small businesses that are creditworthy and able to take on additional debt are eligible. Financing is arranged through Mid-Atlantic’s authorization to sell debentures with the SBA guaranty for up to 40% of a project.

• Purchase of land.
• Purchase or construction of building.
• Modernization, renovation or improvement of a building.
• Purchase of machinery and equipment with useful life of 10 years or more.

• Private lender provides up to 50 percent of project cost, and the Small Business Administration 504 Loan provides up to 40 percent.

• At least 10 percent.

• Maximum of 40 percent of project, or $1,500,000. Under special circumstances, up to $2,000,000 is available. For small manufacturers, up to $4,000,000 is available.
• Term of 20 years for real estate, 10 years for machinery and equipment. 504 loans are fully amortized.
• Fixed, below market interest rate.
• Total fees of 2 5/8 percent plus an attorney closing fee. These fees can be included in the 504 loan amount and financed over a 20-year term. All fees paid prior to closing and financed with the 504 Loan are refundable.

• Will provide up to 50 percent of project cost.
• Minimum term of 10 years on real estate, 7 years on machinery and equipment.
• Market interest rate and fees.

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