Add What is the 504 Loan Program?
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<br>Breadcrumb<br>
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<br>1. Home.
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2. Funding Programs.
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3. Loans.
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4. 504 loans<br>
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<br>Section navigation<br>
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<br>- Loans - Make a payment to SBA.
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- 7( a) loans.
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- 504 loans - List of CDCs<br>
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<br>504 loans<br>
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<br>Content<br>
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<br>What is the 504 loan program?<br>
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<br>The 504 loan program provides long-lasting, set rate financing for major fixed properties that promote business growth and task development.<br>
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<br>504 loans are available through Certified Development Companies (CDCs), SBA's community-based nonprofit partners who promote financial advancement within their neighborhoods. CDCs are accredited and managed by SBA.<br>
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<br>The optimum loan quantity for a 504 loan is $5.5 million.<br>
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<br>Am I qualified?<br>
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<br>To be qualified for a 504 loan, your organization should:<br>
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<br>- Operate as a for-profit company in the United States or its ownerships.
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- Have a tangible net worth of less than $20 million.
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- Have a typical earnings of less than $6.5 million after federal earnings taxes for the 2 years preceding your application<br>
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<br>Other general eligibility requirements include falling within SBA size guidelines, having actually qualified management competence, a feasible business strategy, good character and the capability to pay back the loan.<br>
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<br>Loans can not be made to services participated in nonprofit, passive, or speculative activities. For extra details on eligibility [criteria](https://bytnapronajem.online) and loan application requirements, small businesses and lending institutions are motivated to contact a Qualified Development Company in their area.<br>
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<br>How do I utilize a 504 loan?<br>
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<br>A 504 loan can be utilized for a variety of assets that promote service growth and [task creation](https://thembalifikile.co.za). These consist of the purchase or building of:<br>
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<br>- Existing structures or land.
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- New facilities.
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- Long-term machinery and devices with a [helpful remaining](https://kerkobanese.com) life of a minimum of 10 years, including project-related AI-supported equipment or machinery for production items.
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- Consolidating financial obligation under the conditions noted in 13 CFR 120.882, paragraph (e) and.
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- Repaying or re-financing debt defined as "certified debt" under 13 CFR 120.882, paragraph (g)<br>
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<br>Or the improvement or modernization of:<br>
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<br>- Land, streets, utilities, parking area and landscaping.
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- Existing centers<br>
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<br>A 504 loan can not be [utilized](https://froghousing.com) for:<br>
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<br>- Working capital or inventory.
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- Consolidating, repaying or refinancing financial obligation that does not satisfy the meaning of "qualified financial obligation" under 13 CFR 120.882, paragraphs (e) and (g).
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- Speculation or investment in rental genuine estate.
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The funding of AI-related working capital, intellectual residential or commercial property, or speaking with services soft expenses<br>
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<br>What do I need to use?<br>
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<br>504 loans are available exclusively through Certified Development Companies (CDCs). Find a CDC in your [location](https://franchise-bulgaria.com) to ensure you are dealing with a qualified lender. CDCs are distinctively certified to understand 504 loan program policies, and will help you navigate the lender channels to produce your project financing.<br>
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<br>Find a CDC near you<br>
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<br>Find Certified Development Companies (CDCs) licensed to provide 504 loans.<br>
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<br>How do I repay my 504 loan?<br>
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<br>Active 504 loans<br>
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<br>Loan payment terms differ according to numerous factors. Borrowers with active 504 loans can make payments through the Central Servicing Agent, typically by ACH month-to-month draws. Payments can likewise be made by wire or check.<br>
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