BECO SBA Workshop Recap: Unlocking SBA 504 & 7(a) Loans for Business Growth

This past Saturday, BECO hosted an insightful and empowering SBA Workshop at the Dumas Bay Centre, where entrepreneurs and business owners gathered to learn how to secure SBA funding for commercial real estate and business expansion.

Key Takeaways from the Workshop

🔹 SBA 504 Loan: The Key to Owning Your Business Property

One of the primary focuses of the workshop was the SBA 504 loan, which provides long-term, low, fixed-rate financingfor businesses looking to purchase or renovate commercial real estate. Lori Milton, Senior VP & Chief Lending Officer at Evergreen Business Capital, walked attendees through the benefits of this loan, including:

✅ Low Down Payments (typically 10%)
✅ Fixed Interest Rates for 10, 20, or 25 years
✅ No Balloon Payments – predictable, long-term financing
✅ Ability to finance land, building purchases, renovations, and heavy equipment
✅ Opportunities for refinancing and energy-efficiency incentives

Lori highlighted how the SBA 504 loan helps businesses build equity instead of paying rent, providing stability, financial growth, and even potential rental income opportunities.

🔹 SBA 7(a) Loan: Flexible Financing for Business Growth

For those seeking capital beyond real estate, the SBA 7(a) loan was introduced as an excellent alternative. This program provides funding for:

✔️ Purchasing an existing business
✔️ Working capital & equipment purchases
✔️ Refinancing existing business debt
✔️ Real estate acquisition or improvements

Attendees learned that SBA 7(a) loans can range from $25,000 to $5 million and are ideal for businesses needing flexibility in financing their expansion.

Interactive Discussions & Real-World Applications

Throughout the session, participants engaged in Q&A discussions, sharing their business goals and exploring the best funding strategies. Lori provided case studies illustrating how business owners have successfully used SBA loans to scale their companies, secure property, and improve cash flow.

Missed the Workshop? Here’s What You Can Do Next!

If you couldn’t attend, don’t worry! You can still access expert guidance on SBA 504 and 7(a) loans by reaching out to Lori Milton at Evergreen Business Capital or visiting www.evergreen504.com.

For future BECO events that empower Black entrepreneurs with funding, resources, and networking, visit our Events and Workshops page!