Category: SBA Loan Programs
Maximum amount: $5 million
Percent of guaranty: 85% guaranty for loans of $150,000 or less; 75% guaranty for loans greater than $150,000 (up to $3.75 million maximum guaranty)
May be revolving.
Funds start-up or existing businesses, for expansion/renovation, construction, land or buildings, equipment, fixtures, leasehold improvements, working capital, debt refinancing (under special conditions), change of ownership, line of credit, or inventory acquisition.
Used for: Acquisition of vacant land, existing building, Construction of new building, Major renovations and/or additions to existing building, Marine facility acquisition, including fishing vessels and commercial boats, Purchases of capital equipment, including heavy machinery, Tenant improvements – leased facility or land, associated cost such as title and insurance, appraisals, environmental reports, surveys, equipment installation, points on interim loans, furniture and fixtures, etc.
SBA 504 Loan fund through a certified development company (CDC) is designed to provide financing below market rates for the purchase of fixed assets such as real estate, buildings, or machinery.
Existing businesses and start-ups (if experience proven) that do not qualify for traditional bank financing are eligible. Provides fixed asset financing for equipment, inventory, land and building acquisition or construction, leasehold improvements, refinancing, and working capital.
