Provident Business Financial is a Certified Development Company (CDC) that provides SBA 504 loans to business owners throughout the state of South Carolina. Programs that Provident BFS can offer include: • Loans for the purchase/construction of real estate with 20-Year FIXED RATE financing on up to 40% of the total project costs. Maximum SBA loan amounts do apply to the 504 portion of the loan, but there is no limit to the private (first mortgage) amount of the loan. • Loans for the purchase of equipment with 10-Year FIXED RATE financing on up to 40% of the total project cost. Maximum SBA loan amounts do apply to the 504 portion of the loan, but there is no limit to the private (first mortgage) amount of the loan. • Refinance of existing real estate or equipment based upon the same guidelines above, using fair market appraised value for total project costs. Existing SBA loans do not qualify for refinancing. 85% of the proceeds of the loans being refinanced must have been used for 504 eligible purposes. Loans being refinanced must have been current for the past year with no payments deferred or past due. Other qualifications may apply. • Project costs split 50% private sector financing/40% Provident/10% Borrower Contribution. Start-ups and special use properties will require additional owner equity. • We work with the business owner’s primary banker or will work with them to find a lender. The SBA 504 loan is subordinated to the private sector financing.