SBA 504 Small Business Loans
10 or 20 year, low fixed rate second mortgage loans for small businesses. 40% of total project cost (maximum $4 million) including acquisition, construction, renovation, soft costs for building, condo, co-op, leasehold, commercial vessel, machinery. Bank or other lender lends 50% in first mortgage position. 10% down by small business. For manufacturers, wholesalers, service, professional service, retail businesses - start up or existing.