FAQs
How do I apply for an SBA 504 Loan?
You can start an Application Online.
How long wiLL the process take?
From application to funding, approximately 90 days.
Can I get a second 504 Loan?
Yes! Or even more. You are not limited to the number of SBA Loans, but to the maximum lending limit to $5 million or $5.5 million.
What are the equity requirements?
For the 504 Loan, 10% is the general standard equity requirement.
What could slow the process down?
Life Insurance, Appraisal, Environmental Report
Can soft costs be rolled into the 504 Loans?
Yes, all your soft costs (Appraisal, Environmental, Construction Interest, Closing Costs, etc.) can be financed into the 504 Loan, which allows small business to preserve working capital