SMPDD is pleased to announce a partnership with Three Rivers Planning and Development District (TRPDD) and its Community Development Corporation (CDC) to originate U.S. Small Business Administration (SBA) 504/CDC loans. SMPDD will be originating and taking applications for these loans in its 15-county area. The SBA 504 Loan Program is for the purchase and use of long-term fixed assets such as land, buildings and certain equipment. SBA 504 loans are a combination of traditional bank financing and SBA 504/CDC financing owners’ equity. The maximum SBA 504 loan amount is $5,000,000 with the maximum participation not to exceed 40% of the project cost. Once applications are packaged, they will be forwarded to TRPDD’s loan staff for underwriting, processing and approval. This product is a great addition to SMPDD’s existing Revolving Loan Funds allowing the loan staff to service its district’s businesses by being able to provide an option for those businesses that may need funding in excess of the existing Revolving Loan Fund maximum loan amount of $500,000.