A complete guide for Small Business Administration 504 Loan Program.
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If you’re looking for a small business loan to acquire commercial real estate, heavy machinery, and equipment then the small business administration SBA 504 Loan Program is the most suitable choice.
Since it is fixed-cost and long-term as well as SBA-backed, the 504 Loan Program is one of the best financing options available for small business owners today.
In this guide, we will discuss the qualification, rates, and some different uses of the SBA 504 loan program, and how you apply for one in your business time of need.
To be eligible for a 504 Loan, your business must:
Other common eligibility standards cover falling within SBA size guidelines, a feasible business plan, and the ability to repay the loan.
Loans can’t be made to businesses engaged in nonprofit, passive, or speculative activities.
For more detailed eligibility requirements, please fill up this application or call @ +1 (888) 885-0007 for more information.
The U.S. Small Business Administration published the updated interest rates for the 504 Loan Program offered by Certified Development Companies (CDC). The program now offers 10, 20, and 25-year interest rates at 2.231 percent, 2.364 percent, and 2.399 percent, respectively. Small businesses can now apply for a 504 loan at these low-interest rates.