The CDC/504 Loan Program provides long-term, fixed rate financing for major fixed assets that promote business growth and job creation.
504 loans are available through Certified Development Companies (CDCs), SBA's community-based partners who regulate nonprofits and promote economic development within their communities. CDCs are certified and regulated by the SBA.
The maximum loan amount for a 504 loan is $5 million. For certain energy projects, the borrower can receive a 504 loan for up to $5.5 million per project, for up to three projects not to exceed $16.5 million total.
To be eligible for a 504 loan, your business must:
Other general eligibility standards include falling within SBA size guidelines, having qualified management expertise, a feasible business plan, good character and the ability to repay the loan.
Loans cannot be made to businesses engaged in nonprofit, passive, or speculative activities. For additional information on eligibility criteria and loan application requirements, small businesses and lenders are encouraged to contact a Certified Development Company in their area.
A 504 loan can be used for a range of assets that promote business growth and job creation. These include the purchase or construction of:
Or the improvement or modernization of:
A 504 loan cannot be used for:
504 loans are available exclusively through Certified Development Companies (CDCs). First, find a CDC in your area to ensure you are dealing with a qualified lender.
Then begin to prepare and assemble your 504 loan authorization package, using our 504 Authorization File Library to identify the documentation you will need to apply for your 504 CDC loan.
Loan repayment terms vary according to several factors:
Repayment terms
Interest rates
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