What can the SBA 504 loan be used for?

The SBA 504 loan program can be used to finance or refinance long-term fixed assets such as real estate acquisition, construction, renovation or expansion, including the purchase of land. It can also be used for land and site improvements including grading, streets, parking lots, utilities or landscaping. You can purchase and install new machinery or equipment, pay for professional fees directly attributed to a project (surveying, engineering, architectural or legal). And some other options are business acquisition, partner buyout, or refinance commercial real estate.

What are the SBA Loan requirements?

Businesses must meet the small business size standard AND create jobs or meet a public policy goal to be eligible for an SBA 504 loan. More information on SBA 504 loan eligibility and requirements can be found at https://www.dakotabusinesslending.com/what-are-the-sba-504-loan-requirements/.

ACTIVATE

A program designed to help you ACTIVATE your business!

So often, due to the fears and unknowns that starting and owning a business brings, small business owners lack the knowledge and resources to activate their business and take it to the next level. This is why Dakota Business Lending started ACTIVATE: a program designed to assist small business owners with answering these questions and finding ways to move their business forward. Check out our ACTIVATE programs available now.