Seedcopa repeats as top SBA lender

Agency recognized for its success with its SBA 504 loans to small businesses

UWCHLAN » For the second year in a row, the U.S. Small Business Administration (SBA) has recognized Seedcopa — as the top SBA 504 lender for small businesses in Eastern Pennsylvania. Seedcopa is a provider of SBA 504 and other below-market loans and is the regional financing affiliate with the

Chester County Economic Development Council.

Seedcopa approved 42 loans totaling more than $37 million, with projects totaling more than $92 million in fiscal year 2021, which ended Sept 30.

Seedcopa was able to support even more borrowers this year with an increase of 53% over last year’s loan volume according to a press release announcing the ranking. Nationwide, the loan volume increased 41% for the flexible, lowinterest SBA 504 loan program.

For loans spanning the Mid-Atlantic region, Seedcopa worked with 46 borrowers, approving total loans of more than $43 million in fiscal year 2021, with total projects at $115 million, the agency said.

“There’s no doubt that this has been a rollercoaster of a year for businesses large and small, and it has been extremely gratifying for Seedcopa and its bank partners to offer savings as well as stability with the lowest interest rates available from reputable, trusted lenders,” Sherwood Robbins, Seedcopa managing director, said in a statement. “Getting capital into the hands of our small business owners is always the priority.”

This is not the first time the agency has been the top SBA 504 lender. Over the past 20 years, Seedcopa has been been in the top spot numerous times — most recently recognized for fiscal year 2020.

A statewide certified development company, Seedcopa has the ability to cover all counties in Pennsylvania. This year’s loans, however, spanned nearly twice the usual number of counties throughout the region including: Allegheny, Berks, Bucks, Camden, Chester, Clearfield, Cumberland, Dauphin, Delaware, Lancaster, Lehigh, Montgomery, New Castle, Northumberland and Philadelphia.

Seedcopa helps local smalland mid-sized businesses get the money they need — at below-market, fixed-interest rates — to buy, build, renovate or expand on new or existing land, or to purchase machinery and equipment.

The SBA 504 acts as “a complement to conventional, commercial loans,” according to information on the agency’s website. Among the benefits are “a long-term, below-market fixed interest rate, less money out of pocket or extra consideration of lower appraised values.”

The structure of a typical SBA 504 loan requires a contribution from the business owner of 10%. A third-party lender, like a bank or credit union, contributes 50% of the project cost, while the SBAbacked portion of the loan is 40%, according to the release.

For more information https://seedcopa.com/ visit