REDCO is dedicated to providing business financing for new and growing businesses. We understand that we are an extension of our lending partners’ teams, and to that end we work hard to ensure that our work with you and the business client is a professional and efficient process from start to finish. We consider ourselves your resource, and believe our approach serves to enhance your relationship with your small business client, while also promoting economic development in our communities and throughout the state. Working with REDCO has many key benefits:
REDCO Brings Experience
REDCO was founded in 1983 and now serves the entire state of Virginia. Over the last 15 years, we have approved over 250 SBA 504 Program loans totaling over $120 million in 504 loans in support of over $300 million in new projects. Our involvement has helped create nearly 2,000 new jobs throughout the state.
REDCO Brings Efficiency
From initial meetings with you and the business client, through loan closing, REDCO provides a smooth, efficient process for everyone. We walk through the entire process to make sure everyone is well-informed, and at application we complete all SBA paperwork on behalf of the borrower. We quickly underwrite and decision loans in a matter of days, and submit the final package to the SBA electronically, providing for faster turnaround times. In short, we manage all aspects of the SBA 504 loan process for you and the business client.
REDCO Brings Resources
Our team brings over 20 years of experience in business development, lending and loan servicing. We have relationships with dozens of banks, real estate agents and brokers, and non-bank lenders, and our involvement within the community helps us to better support you.
We are actively involved in programs that provide additional resources, such as our partnership with UMW’s Center for Economic Development to offer the CEO+ Program, as well as our participation in the VetLoan Advantage Program, which bring added value to our business clients and lending partners.
We actively source loans, and in addition to 504 loans we often find other small business loans that require a bank lender {e.g. SBA 7(a) loans}, and are happy to bring those to our banking partners. We believe that our relationships are reciprocal and serve everyone’s best interests.