SBA 504 Loans in Worcester, MA
Find lenders offering sba 504 loans in the Worcester, including Shrewsbury, Leominster, Fitchburg, and surrounding areas. Compare rates, terms, and programs from 18 lenders.
SBA 504 Lenders Serving Worcester
18 lenders offering sba 504 loans in the Worcester, MA area.
New England Certified Development Corporation
Local SBAWakefield, MA
Wakefield, Massachusetts-based Certified Development Company providing SBA 504 loans throughout New England. Helps small businesses access affordable financing for commercial real estate and major equipment purchases.
Bay Colony Development Corporation
Local SBAWaltham, MA
Worcester Business Development Corporation
Local SBAWorcester, MA
South Eastern Economic Development Corporation
Local SBATaunton, MA
Live Oak Banking Company
SBAWILMINGTON, NC
One of the nation's top SBA 7(a) lenders, specializing in lending to small businesses across healthcare, veterinary, beverage, self-storage, and other industries. Offers SBA loans, USDA loans, conventional business loans, and commercial real estate financing.
The Huntington National Bank
SBACOLUMBUS, OH
Major regional bank and consistently one of the top SBA lenders in the country by number of loans. Offers SBA 7(a) and 504 loans alongside conventional business lending, commercial real estate, and treasury management services.
Readycap Lending, LLC
SBABERKELEY HEIGHTS, NJ
Non-bank SBA preferred lender offering SBA 7(a) and 504 loans nationwide. Specializes in commercial real estate, business acquisition, and expansion financing for small businesses. Known for fast closings and flexible underwriting.
Byline Bank
SBACHICAGO, IL
Chicago-based bank and one of the top SBA 7(a) lenders in the Midwest. Provides SBA loans, commercial real estate financing, equipment loans, and government-guaranteed lending for small and mid-sized businesses.
Manufacturers and Traders Trust Company
SBABUFFALO, NY
M&T Bank is a major regional bank and one of the top SBA lenders by loan count in the Northeast. Offers SBA 7(a), Express, and 504 loans alongside a full range of commercial banking, commercial real estate, and small business products.
Enterprise Bank & Trust
SBACLAYTON, MO
Midwest-based bank and top SBA preferred lender. Offers SBA 7(a) and 504 loans, conventional commercial lending, commercial real estate financing, and specialty lending for industries like healthcare and professional services.
Cadence Bank
SBATUPELO, MS
Regional bank serving the Southeast and Texas, and an active SBA preferred lender. Offers SBA 7(a) and 504 loans, commercial real estate lending, equipment financing, and full-service business banking.
KeyBank National Association
SBACLEVELAND, OH
Major regional bank and SBA preferred lender with nationwide commercial banking operations. Offers SBA 7(a) and 504 loans, conventional business lending, commercial real estate, equipment finance, and capital markets services.
Wilmington Savings Fund Society FSB
SBAWILMINGTON, DE
Delaware-based regional bank and SBA preferred lender. Offers SBA 7(a) and 504 loans, conventional commercial lending, commercial real estate financing, and full-service business banking across the Mid-Atlantic region.
First-Citizens Bank & Trust Company
SBARALEIGH, NC
One of the largest family-controlled banks in the U.S., headquartered in Raleigh, NC. Offers SBA 7(a) and 504 loans, commercial real estate, equipment financing, and lines of credit for businesses nationwide.
East West Bank
SBAPASADENA, CA
One of the largest independent banks focused on the U.S. and Greater China markets. Offers SBA 7(a) and 504 loans, commercial real estate, trade finance, and international banking for businesses with cross-border needs.
Worcester Commercial Real Estate Market
Worcester has emerged as a growing CRE market benefiting from its position as New England's second-largest city and its increasing connectivity to Boston via commuter rail. The Canal District redevelopment, anchored by Polar Park — home of the WooSox minor league baseball team — has catalyzed mixed-use investment including hotels, retail, and multifamily along Green Street and Madison Street. The city's 12 colleges and universities, including WPI and Clark University, create steady demand for student housing and neighborhood retail. Industrial demand is concentrated along the I-290 and Route 146 corridors, where older mill buildings are being converted to modern flex and creative office space.
Key Economic Drivers
- ●UMass Memorial Health Care and St. Vincent Hospital medical campus expansions
- ●Worcester Polytechnic Institute (WPI) and Clark University research and student housing demand
- ●Canal District redevelopment zone surrounding Polar Park stadium
- ●Commuter rail access drawing Boston-priced-out tenants to lower-cost office and multifamily
Market Insight
Worcester's average commercial rents run roughly 40-50% below comparable Boston properties, and the city's Gateway City designation qualifies projects for enhanced state tax incentives, making it an increasingly attractive value play for CRE investors seeking yield.
SBA 504 Loans in Worcester, Massachusetts
SBA 504 loans provide long-term, fixed-rate financing for major fixed assets like commercial real estate and heavy equipment. The loan is split between a bank (50%), a Certified Development Company (40%), and your down payment (10%), resulting in below-market rates on the CDC portion. In the Worcester metro area, borrowers can access 18 lenders offering SBA 504 financing, including Shrewsbury, Leominster, Fitchburg, and surrounding areas. Loan amounts typically range from $125K to $17M with rates from Below market (CDC portion ~5-6%).
Who Should Consider SBA 504 Loans?
- Owner-occupied commercial real estate
- Heavy equipment purchase
- Business expansion
- New construction
Key Requirements
- For-profit business
- Net worth under $15M
- Average net income under $5M (after taxes) for prior 2 years
- 51%+ owner occupancy
- Create or retain jobs (1 per $90,000 CDC)
Advantages
- ✓Only 10% down payment
- ✓Below-market fixed rate on CDC portion
- ✓Long terms (20-25 years for RE)
- ✓No balloon payments
Considerations
- •Must be owner-occupied (51%+ for existing, 60%+ for new construction)
- •Cannot be used for working capital
- •Longer closing timeline
- •Two closings (bank + CDC)
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