San Diego checked in with the second largest volume of commercial Small Business Administration 504 loans at $40 million through May of this year.
Los Angeles easily outpaced the rest of the California cities with a $114 million volume. San Diego edged out Vernon's $39 million, San Francisco's $38 million, and Sacramento's $27 million total.
In addition, entrepreneurs are still taking advantage of the “Green 504” loan program, which allows higher lending amounts for small business owners who want to buy or upgrade commercial/industrial buildings and make them more energy efficient.
Buildings valued at more than $20 million may be financed using this program offered jointly by a bank and CDC (Community Development Corp.) Small Business Finance. Small business owners need only demonstrate a projected 10 percent reduction in energy costs by deploying one or more energy-saving improvements (e.g. insulation, lighting, heating/air conditioning).
Small business owners may find out if they qualify for a loan by calling 800-611-5170.