The SBA 504 loan can be a great option for small business owners who want to take their business to the next level while promoting growth and preserving cash flow. SBA 504 loans can combine multiple uses of proceeds for fixed assets, including the purchase of land and land improvements, the construction or modernization of facilities, and the purchase of long-term machinery. To qualify for an SBA 504 loan, businesses must be for-profit, have a tangible net worth not more than $15MM, and an average net income of $5MM or less. SBA 504 loans are designed not only to help small businesses, but the community at large, and promote community development, public policy, and job creation.
Features of an SBA 504 Loan
- Loan amounts up to $8.5MM
- Longer loan amortization
- Can be used for commercial real estate, improvements and equipment
To get started on your SBA 504 loan, contact one of our Business Lending Specialists today. We are ready and waiting to help you take your business to the next level.