Frequent Questions

How long has BDC been in operation?
We have been serving Indiana and Michigan businesses since 1982.

How does BDC help businesses?
BDC offers supplemental long-term, fixed-rate loans for the development and expansion of small businesses. We take care of all the paperwork, and work with you and your bank to arrange the right financing package for your business needs.

Who are some of the businesses BDC has helped?
The BDC has assisted in helping small businesses secure financing in industries including but not limited to:

  • Manufacturing
  • Retail
  • Doctor’s Offices/Medical Facilities
  • Professional Services
  • Hospitality/Hotels
  • Restaurants/Bars/Breweries
  • Service Industries
  • Childcare Facilities
  • Gas Station/Convenience Store
  • Insurance
  • Technology/Software
  • Packaging
  • Veterinary

What is the Small Business Administration 504 Loan Program?
The 504 Loan Program recognizes the contributions of expanding small- and medium-sized business toward job growth in the United States. It provides financing designed to meet the needs of qualified businesses planning to invest in equipment and/or real estate for their own use.

How can a 504 Loan Program help my business?
A 504 Loan Program offers numerous benefits to small businesses, including:
• Low down payment – conserving valuable working capital
• Competitive, fixed interest rate – no future interest rate fluctuations
• Longer term – 10, 20 and 25 year terms
• 10% borrower equity, 50% bank funded, 40% SBA
• Offset interest rate risk (of project tied to a fixed rate)
• Extended terms provide lower monthly payments
• Improve collateral position to increase borrowing capacity at lower rates

What other services does BDC offer?
In addition to 504 Loan Programs, BDC helps small businesses and entrepreneurs get in touch with the proper organizations who can provide valuable guidance and assistance to facilitate your business or financing needs. The BDC is also a proud supporter of many local small business projects throughout the region.

Where are you located?
In Downtown South Bend, Indiana.

What is the extent of the territory BDC covers?
We provide financial backing and support to the entire state of Indiana and southwestern Michigan.