The SBA 504 loan program offers subordinated, fixed rate financing to healthy and expanding small businesses. Long-term, fixed rate financing (10-20 years) and reasonable rates (near long-term U.S. Treasury bond rates), make the SBA 504 an attractive and effective economic development financing tool.
- Long-term, fixed-rate financing
- Available to all for-profit businesses, including retail operations
- As a Certified Development Corporation (CDC), the GOED offers 504 loans statewide
- Loan amounts: $2 million; up to $5 million under public policy; or, $5.5 million for manufacturing or enery-related borrowers
- Subordinate lien position to bank
- Fixed asset purchases are eligible
Program requires interim/construction financing
Category: Business Incentives
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