REDCO

Big News: REDCO has a new look and website!     As we head into 2025, we’re proud to launch a refreshed brand that reflects our growth over the last 40 years and our ongoing commitment to small businesses and communities across Virginia, Maryland, West Virginia, and Washington, D.C. Our updated logo reflects the vibrant communities we serve, while our new website makes it easier than ever to explore resources, impact stories, and SBA 504 loan information.    Learn more about our rebrand and new website here: https://lnkd.in/emsjpmBF    #REDCO504 #SmallBusinessGrowth #EconomicDevelopment #Inclusivity 

REDCO is proud to have financed the SBA 504 loan for Legacy Engineering's recent purchase of a 17,000-square-foot building in downtown Fredericksburg. This acquisition marks a significant milestone for the fast-growing firm as it relocates its headquarters to a more spacious and central location. We are excited to support their continued growth in the area. A big thank you to the Legacy Engineering Team, and to our banking partner, David Belman at Shore United Bank (formerly CBTC) for entrusting us with this project!

Please join us in raising funds for Gwyneth's Gift Foundation at the annual Guest Bartender Event at Castiglia's Sky Bar in Downtown Fredericksburg this coming Wednesday, Oct. 16th. Our very own Joe DiStefano will be bartending starting at 7:00, and he'd love to see you there! If you can't make it and would like to consider a donation to this wonderful, life-saving organization, please use the QR Code here.

Capping off a gorgeous week of weather is the equally beautiful SBA 504 rates for September fundings! This month's fixed rates dropped nearly 30 basis points compared to last month's funding. With below-market, long-term fixed rates, the SBA 504 Program offers the best financing available for small businesses looking own and occupy their own space, or to acquire other long term fixed assets. REDCO would welcome an opportunity to earn your business!

SBA 504 Program rates are out and represent another month of rates trending downward, and a win for small businesses looking to buy or build their own space! The 504 Program offers what no other commercial mortgage program can match: 10% down in most cases, long-term below market fixed rates, and the ability roll in most of the closing costs.

Just a few of the projects we're proud to be part of, and congratulations to these businesses as they grow and invest in themselves! Of course, a big thank you to our lending partners who played a vital role in making these happen: Greg Jay at Old Dominion National Bank David Belman at Shore United Bank Brendan Baldwin at John Marshall Bank Autumn Hayes at Atlantic Union Bank Caitlin Allison at Bank of America

Rates are trending down this month with a nearly 20 basis point drop in the 20- and 25- year rates!

A big congratulations to our colleague, Allison Graves, and the entire 2024 Leadership Fredericksburg graduates! Leadership Fredericksburg is a 9-month course giving regional leaders at all levels the opportunity to enhance their leadership skills while giving back to the community. Allison's team, Powerhouse Squad, worked with the non-profit, Servings of Hope, a ministry of the 516 Project, which was organized to feed underprivileged children in our community. Powerhouse Squad worked with the organization to identify needs in the region and to deliver a fully implementable funding, volunteer, and digital marketing strategy. Their presentation was very impressive and full of energy! Congratulations!