Maitland, FL, March 1, 2016 (Newswire.com) - Fountainhead Commercial Capital today announced it has expanded its SBA 504 lending programs into four new states: Colorado, Kansas, Oklahoma and Texas. The company will immediately begin offering SBA 504 loans for owner-occupied real estate to small business owners and entrepreneurs in these states. In addition, Fountainhead will provide access to its FastTrack 504TM program for banks and credit unions in these states, enabling them to fully outsource SBA 504 loans and simplify the SBA process for their clients.
According to Chris Hurn, CEO of Fountainhead, the company has been eyeing expansion into these markets for the past year and is proud to deploy new resources to this area of the country. Funding through the 504 loan program enables business owners to receive long-term, below-market, fixed-interest rate loans at favorable terms.
Since opening our doors just over a year ago, we have helped scores of business owners realize the dream of owning their commercial property. Our FastTrack 504TM has gained traction and praise from banks and credit unions alike. We are pleased to expand our efforts into these important states.
Lenders participating in FastTrack 504TM source an SBA 504 loan but then hand over the project to Fountainhead which manages underwriting, oversees selection of a required Certified Development Company partner, secures SBA approvals, orders all third party reports and eventually closes and funds the loan. Lenders within the program can earn loan premiums up to 6% of the funded first mortgage loan amount and not worry about losing the entire customer relationship to another lender.
"Since opening our doors just over a year ago, we have helped scores of business owners realize the dream of owning their commercial property," said Hurn. "And our FastTrack 504TM has gained traction and praise from banks and credit unions alike. We are pleased to expand our efforts into these important states."
FastTrack 504TM is now offered in 16 states including: Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Ohio, Oklahoma, Pennsylvania, Texas, West Virginia and Wisconsin.
Fountainhead Commercial Capital, a nonbank lender specializing in the SBA 504 loan program, was founded by some of the most experienced and awarded SBA 504 lenders around. The company’s FastTrack504™ program enables to fully outsource SBA 504 loans to Fountainhead so they simplify the SBA process for their clients and deal with specialists, while earning referring lenders non-interest (premium) income. More information is available at www.Fountainhead504.com or by calling 800-770-1504.