The proceeds of this loan will be to finance the acquisition of fixed assets and not refinance an existing loan.
Yes No
The Operating Business and all affiliates do not have a tangible net worth in excess of $8.5 million and does not have an average net income in excess of $3 million after taxes for the preceding two years.
Yes No
My franchise is eligible as shown on the SBA Small Business Franchise Registry. www.franchiseregistry.com
Yes No
My business is not engaged in speculation or investment in rental real estate, including apartment buildings, mobile home parks and/or mini storage facilities.
Yes No
My business will occupy at least 51% of the building being purchased, if existing; or for ground up construction, 60% now and 80% within the near future.
Yes No
At least 51% of the owners of this business are US Citizens or persons lawfully in the US.
Yes No
None of the owners of this business have had prior losses with the US Government, including student loans, FHA or VA home loans.
Yes No
All business owners have good character with no previous or pending convictions, arrests, probations, bankruptcies or lawsuits.
Yes No
The borrower must create or retain at least 1 job per $50,000 guaranteed by the SBA or improve the economy of the locality or achieve one or more public policy goals. Please contact one of our team members to determine if you meet one of these public policy goals.
Loans can be made to small business, whether you are a start-up or an existing business. A start-up business requires an additional down payment of 5% of the project costs. Start-up businesses will require a business plan and reasonable projected financial statements. Please visit the “Other Links” for resources to assist you with these projections.
If you have answered YES to all of the above questions, you will typically qualify for an SBA 504 Loan.
Contact one of our knowledgeable team members today to discuss your project and how the SBA 504 Loan Program can work for you.
Effective Rates February 2010 20 Year Rate: 5.55%
10 Year Rate: 4.91%
