The SBA 504 Loan Program
The 504 Loan Program provides long-term, fixed-rate financing with low down payments to businesses. These loans are used to acquire real estate, machinery or equipment for expansion or modernization.
A Typical Project Includes:
The 504 Loan Program is designed for:
- For-profit businesses
- Start-ups and existing businesses
- Owner-occupied businesses
Benefits to your small businesses:
- Low, fixed interest rates - with the 504, borrowers benefit from a low interest rate, which is fixed for either 10, 20, or 25 years.
- 10% down payment - in most cases, borrowers are required to inject only 10%, which preserves working capital for business growth.
- Predictable monthly payments - borrowers lock in a low fixed interest rate, which gives them predictable payments and allows them to easily plan for the future.
The SBA 504 Refinance Loan Program
What's Eligible?
- Businesses that have been in operation 2 years or more.
- Businesses that occupy at least 51% of their building.
- Debt that has been in existence for a minimum of six-months that has been secured with project property real estate.