Chesapeake Business Finance Corp. is Maryland's most experienced 504 lender. As a SBA certified 504 lender, Chesapeake helps businesses expand in Maryland, DC, southern Delaware, Northern Virginia, and eastern West Virginia.
The first call is to Chesapeake Business Finance Corp. Our professionals will evaluate the loan request, organize the financial package, complete all the SBA paperwork, process the loan closing, and service the loan.
The SBA 504 loan program provides businesses with long-term, below-market fixed-rate, subordinated loans to purchase real estate, build, expand and renovate or make leasehold improvements to buildings or purchase machinery and equipment.
Chesapeake Business Finance Corp is a private non-profit corporation licensed by the U.S. Small Business Administration ("SBA") to make SBA 504 loans to businesses in Maryland, DC, southern Delaware, Northern Virginia, and eastern West Virginia.
Chesapeake's role is to market the 504 program, assist bank to screen and structure eligible projects, prepare loan packages, negotiate with the SBA, coordinate the closing, and service the loans after they are funded.
“Throughout my career, my colleagues and I have done many SBA 504 loans with Chesapeake, and have always been very pleased.
The “504” is a great loan product that simultaneously benefits both the Borrower and the Bank. Also our bank-examiners were always pleased to see that 504 loans were subordinate to Bank financing when they reviewed our “owner-occupied” commercial loan financing portfolio.
I highly recommend both the SBA 504 as a loan product and Chesapeake Business Finance as a provider. “
Jack G. Welborn, recently retired EVP and Chief Loan Officer for Old Line Bank (now WesBanco via acquisition)