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SBA 504
$200,000 No Maximum
PROGRAM DETAILS
Business Eligibility
- For-profit business with a net worth < $8.5M
- 2 year average after tax net income < $3M
- SBA size standards based on the number of employees or annual revenues
- Multi-Industry properties eligible
- Loan amounts from $200,000 – No maximum, CDC portion $1.5M - $4M depending on eligibility criteria
- Minimum 1.20x DSC
- LTV’s up to 90%
- Rates fixed & floating
- Up to 25 years amortization fully amortized
- Costs may be included in loan
- Minimum 5 year prepayment penalty
- Expand / acquire
- Purchase , construct, or expand owner occupied commercial real estate
- Finance project related soft costs
- Purchase equipment
- Limited refinance of existing real estate and equipment debt in combination with new funds for a 504 eligible expansion