The SBA Real Loan

Eligibility 2017-08-15T17:44:12+00:00

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.

Kinds of businesses served

  • Auto and motorcycle dealerships
  • Auto repair shops
  • Car washes
  • Childcare centers
  • Dental offices
  • Distribution centers
  • 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

Answer these questions to find out if your business is eligible:

  • Are you a for-profit business?
  • Has your average net profit after taxes been less than $5 million during the previous two year’s tax returns?
  • Will this loan be used to finance the acquisition, construction or renovation of real estate or the purchase of equipment?
  • If the loan is used to purchase a building, will your business occupy at least 51% of the space?
  • If the loan will be used for ground-up construction, will your business occupy at least 60% of the building now and 80% long-term?
  • All owners of 20% or more of your business, and a real estate holding company if it is formed, must be willing to guarantee the loan.

If you answered YES to all of these questions, you are likely eligible for a 504 loan. Contact one of our loan experts to find out if your business is eligible.