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/.

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