PageContent1For existing businesses wishing to acquire fixed assets.Whether for acquiring a commercial property, making improvements, or purchasing equipment, your business has the advantage of requesting long-term financing with fixed interest rates. Eligibility:Any for-profit DBA, corporation, or company established for two or more years. The business or borrower must occupy more than 51% of the property to be purchased. Must meet the eligibility criteria established by the SBA. Features:Maximum amount up to $5,500,000. 50, 40, 10 Formula.50% permanent loan with the Bank.40% direct loan with the SBA.10% project down payment.Term of up to 25 years for commercial property and up to 10 years for commercial equipment depending on its useful life. Fixed rate in the SBA portion for the life of the loan (no balloons).Program in partnership with SBA-certified development companies1 . In manufacturing companies. SBA participates through a Certified Development Company1. Term Loan. Collateral Requirement:The financed asset will serve as collateral, whether it be real estate, improvements, and/or equipment. Typical Use of Proceeds:Purchase or renovation of owner-occupied commercial properties. New construction. Purchase of commercial machinery and equipment. Refinancing of existing debt (subject to certain restrictions). Benefits:Smaller contribution to total project cost. Lower interest rates than any other SBA product. Broader maturity terms. Certain closing costs can be rolled into the loan. For more information, go to: https://www.sba.gov/funding-programs/loans/504-loans Call Us 787-729-8258
