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What Qualifies For A SBA 504 Loan

The SBA 504 loan will provide financing for:

  • purchase of land.

  • purchase or construction of a building.

  • renovation, including leasehold improvements.

  • purchase of machinery or equipment with a minimum useful life of ten years.

  • refinancing of existing eligible debt up to 50% of new project costs excluding soft costs.

  • related soft costs, such as construction period interest, professional fees, and standard real estate closing costs.

  • existing conventional mortgages can be refinanced in an expansion project but cannot exceed 50% of the new project costs.

The SBA 504 program financing may not be used for:

  • working capital.

  • to acquire property for purely investment purposes.


John Sower
President
1101 30th St NW #500
Washington, DC 20007
Tel: 202-625-4373
Fax: 202-342-0389
jsower@chesapeake504.com
Tom Turner
Sr. Vice President
1101 30th St NW #500
Washington, DC 20007

Tel: 410-564-9085
Fax: 202-342-0389
tturner@chesapeake504.com



     
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