What can the SBA 504 be used for?
Eligible projects: The SBA portion of these 504 financing packages may be used for the following fixed-asset projects:
- Real Estate acquisition, construction, renovation or expansion, including the purchase of land.
- Land and site improvements, including grading, streets, parking lots, utilities or landscaping.
- Purchase and installation of new or used machinery and equipment.
- Interest on interim financing.
- Professional fees directly attributable and essential to the project such as surveying, engineering, architectural or legal.
- Business acquisition or partner buyout of the above uses may be eligible.
- Limited debt refinance with expansion.
- Straight refinance of commercial real estate, eligible fixed assets and cash out for business operating expenses.
*interest rate for straight refinance is .027% higher than the posted 504 rates