- 5.56%February 2010504 20-Year Term
Eligibility
SBA 504 LOAN ELIGIBILITY
The 504 loan serves numerous expanding small to mid-sized businesses. It is available to individual business owners or multiple owners partnering on a project.
Eligible borrowers
- For-profit businesses
- Tangible net worth no greater than $8.5 million
- Net profit after taxes no greater than $3 million during previous two years
- Multiple businesses partnering to occupy the same building
- Must meet at least one goal around job creation, public policy or community development through their expansion project
Kinds of businesses served
- Auto and motorcycle dealerships
- Auto repair shops
- Car washes
- Childcare centers
- Dental offices
- Distribution centers
- Hair salons
- Heating and mechanical contractors
- Hotels and motels
- Internet companies
- Law offices
- Manufacturers
- Medical offices
- Restaurants and food service companies
- Retail and wholesale companies
- Veterinary offices
- Warehouses
Contact your local loan officer to find out if your business is eligible.
Most Recent SBA 504 Rates
5.56% February 2010 504 20-Year Term |
4.91% January 2010 504 10-Year Term |