EDC

Economic Development Centers

Sullivan Bank also works with the Economic Development Centers (EDC) who assist the Small business Administratiion (SBA), in the 504 loan program. The 504 loan program is most commonly used in the acquisition of real estate or equipment for the start-up of your business. With this program, the Sullivan Bank will have a first lien position on the asset being acquired while the EDC holds a junior lien on the asset.