SBA 504 Loans
Category : Business Banking
SBA 504 Loans provide financing for major assets.
Typically major assets are considered to be commercial real estate, new construction, or landlord leasehold improvements. SBA 504 Loans could also include equipment and fixtures. The loans have a low down payment, fixed rates and often times longer repayment terms than what is available through conventional bank loan programs.
Business owners should note that SBA 504 Loan proceeds cannot be used for working capital or inventory. (We have other options for those needs). You or your organization must be a for-profit entity in order to be eligible for these Small Business Administration loan offerings.
Our partners are part of the SBA’s Preferred Lender Program which ensures a streamlined process with minimal paperwork.
- Down payments as low as 10%
- Fixed interest rates
- Possible Longer repayment terms for commercial real estate
How SBA 504 Loans Benefit Growing Businesses:
- Special consideration can be give to Projected income of a business, in addition to historical numbers
- Guarantor support may be weighted less in qualifying due to major asset collateral
Interested in learning more or applying? Contact us today!