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EIN 54-1239624

504 Capital Corporation

IRS 501(c) type
501(c)(6)
Num. employees
9
City
Chesapeake
State
Virginia
Year formed
1983
Most recent tax filings
2023-09-01
NTEE code, primary
S43: Management Services for Small Business, Entrepreneurs
Description
504 Capital Corporation provides SBA Section 504 loans to small businesses. The company offers permanent below market financing to minority-owned, women-owned, and veteran-owned businesses located in the federal area.
Also known as...
Tidewater Business Financing Corporation
Total revenues
$2,391,150
2023
Total expenses
$1,897,942
2023
Total assets
$3,755,978
2023
Num. employees
9
2023

Program areas at 504 Capital Corporation

504 Capital Corporation has provided permanent below market financing to small businesses through us sba 504 loan programs. These small business owners consist of minority-owned, women-owned, and veteran-owned businesses and some were located in the federally approved revitalization areas who could not obtain permanent financing without assistance from 504 Capital Corporation. 504 Capital Corporation obtains documentation from the borrower's primary lender explaining that they will not finance proposed projects. The documentation also explains that financing is required for the small business to move forward. The assistance provided by 504 Capital Corporation resulted in the rebuilding of neighborhoods targeted for public investment to improve and upgrade economic conditions on depressed areas. It also resulted in the creation of new jobs and retention of a significant number of jobs.

Personnel at 504 Capital Corporation

NameTitleCompensation
Brent SwansonPresident$254,000
Stephen S PerryLoan Portfolio Manager$103,500
Laura M SawyerUnderwriter$126,000
Tara F SaundersSecretary$0
Joseph L BarnesTreasurer$0

Financials for 504 Capital Corporation

RevenuesFYE 09/2023
Total grants, contributions, etc.$0
Program services$2,247,851
Investment income and dividends$181,144
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$-37,845
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$2,391,150

Form 990s for 504 Capital Corporation

Fiscal year endingDate received by IRSFormPDF link
2023-092024-04-02990View PDF
2022-092023-03-29990View PDF
2021-092022-02-28990View PDF
2020-092021-06-30990View PDF
2019-092020-09-23990View PDF
...and 9 more Form 990s
Data update history
May 20, 2024
Posted financials
Added Form 990 for fiscal year 2023
May 19, 2024
Updated personnel
Identified 2 new personnel
June 15, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 13, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 9, 2023
Used new vendors
Identified 1 new vendor, including
Nonprofit Types
Business and community development organizations
Issues
Business and industry
Characteristics
No characteristics found
General information
Address
501 Independence Pkwy 330
Chesapeake, VA 23320
Metro area
Virginia Beach-Norfolk-Newport News, VA-NC
County
Chesapeake city, VA
Website URL
504capital.com/ 
Phone
(757) 623-2691
IRS details
EIN
54-1239624
Fiscal year end
September
Taxreturn type
Form 990
Year formed
1983
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
S43: Management Services for Small Business, Entrepreneurs
NAICS code, primary
522120: Savings Institutions
Parent/child status
Independent
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