 |
SBA 504 Loan Program Elligibility
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 & motorcycle dealerships
• Auto repair shops
• Car washes
• Child care centers
• Dental offices
• Distribution centers
• Hair salons
• Heating & mechanical contractors
• Hotels & motels
• Internet companies
• Law offices
• Manufacturers
• Medical offices
• Restaurants & food service companies
• Retail & wholesale companies
• Veterinary offices
• Warehouses
|
|
|
|
|
|