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SBA 504 Loan Program


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Do You Qualify?

Does Your Small Business Qualify for an SBA 504 Loan?

  • Information
  • Eligibility

Please provide the Following Information for your Application

Does or will a real estate holding company own the real estate?

Check Yes or No

I am a for-profit company

The proceeds of this loan will be used to finance the acquisition or construction of fixed assets or refinance non-government guaranteed debt.

The Operating Company and all affiliates do not have a combined tangible net worth in excess of $15 million and do not have a combined average net income in excess of $5 million after taxes for the preceding two years.

If the business is a franchise or has dealer agreements, the borrower will forward a copy of the franchise and/or dealer agreements to the CDC for review and acceptance.

My business is not engaged in speculation or investment in rental real estate, including apartment buildings and/or mobile home parks.

My business will occupy at least 51% of the building being purchased, if an existing building; or for ground-up construction, the operating business must occupy 60% immediately, some additional within 3 years, and 80% within 10 years.

At least 51% of the owners of the business are U.S. Citizens or a legal Permanent Resident of the U.S.

All business owners of 20% or more of the Operating Company (OC) or Eligible Passive Company (EPC) must guaranty the SBA debt. Each spouse owning 5% or more of the OC or EPC must guarantee the loan when the combined ownership interest of both spouses is 20% or more.

None of the owners of this business have had prior losses with the US Government, including student loans, FHA or VA home loans.

ll business owners have good character with no pending charges or convictions, and are not currently on probation (lease consult with your NWBDA representative if there are previous convictions, arrests, bankruptcies or lawsuits within the past 10 years).

The borrower must provide a benefit of at least 1 job per every $90,000 of project debenture (140,000 for energy projects and manufactures).

If all the above questions are answered as YES, the business will typically be eligible for an SBA 504 loan. Loans can be made to a small business, whether it is 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 Resources page for more resources to assist you with these projections. Contact one of our knowledgeable team members today to discuss your project and how the SBA 504 Loan Program can work for you.