MADCO logo MADCO logo MADCO logo MADCO logo MADCO logo
MADCO logo
Contact Us MADCO logo
504 Loan Program - small group

What is MADCO?
How Does it Work?
What are the Requirements?  
Who Qualifies?
Rates, Terms and Fees
What are the Advantages?
How do I Apply?  
MADCO Board Members

 

Who Qualifies?

Businesses must have a tangible net worth of less than $15 million and must have average net profits after taxes less than $5.0 million during the past two fiscal years or meet other SBA size standards. The business must be organized as a for-profit business. Types of businesses eligible include retail, service, wholesale or manufacturing.

Non-qualifying businesses include passive income and real estate companies, developer/landlord deals, financial institutions, unregulated media and not-for-profit businesses.

Principals (owners) must be U.S. citizens or registered aliens with green card. INS verification of non-U.S. citizen status is required. Owners cannot be convicted felons currently on probation. Anyone who owns 20 percent or more of the operating company must personally guarantee the note.

 

Metro Area Development Corporation
6412 North Sante Fe Ave., Suite C
Oklahoma City, OK 73116
405-424-5181 .. fax 405-424-1781

 

504 Loan Program - banner