CMDC

Based in Andover, Minnesota, CMDC provides SBA business loans, including SBA 504 loans, to Minnesota business owners. Its address is 1885 Station Pkwy NW in Andover. The company states a commitment to community leaders, lenders and business owners to grow business in Minnesota and make it a great place, and its stated focus is helping Minnesotans start and grow small businesses. The SBA 504 rates given are 6.98% for a 25-year fixed term, 6.98% for a 20-year fixed term, and 6.61% for a 10-year fixed term. SBA loan benefits cited include a low down payment, a fixed rate, longer repayment terms and a below-market interest rate. These details point to financing for Minnesota small business owners who are considering an SBA-backed loan, including the SBA 504 program. For readers comparing SBA lenders, ask which SBA loan programs the lender offers and whether the SBA 504 program fits the project. Ask how the fixed rate and repayment term are set for a specific loan, what down payment applies, what collateral or personal guaranty may be required, and what documentation the lender needs. Confirm whether the lender works with the type of business and project being financed, and ask how long approval and funding typically take for an SBA loan.