|
|
SBA Certified Development Company (504) Loan Program
| |
Catalog of Federal Domestic Assistance Number: 59.041 |
Program
web site |
http://www.sba.gov/services/financialassistance/sb
aloantopics/cdc504/index.html
|
| Sponsor |
Small Business Administration |
| Deadlines |
Applications accepted on an ongoing basis |
| Purpose |
The 504 Certified Development Company (CDC) Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. Proceeds from 504 loans must be used for fixed asset projects such as: purchasing land and improvements, including existing buildings, grading, street improvements, utilities, parking lots and landscaping; construction of new facilities, or modernizing, renovating or converting existing facilities; or purchasing long-term machinery and equipment.
The 504 Program cannot be used for working capital or inventory, consolidating or repaying debt, or refinancing. |
| Eligibility |
To be eligible, the business must be operated for profit and fall within the size standards set by the SBA. Under the 504 Program, the business qualifies as small if it does not have a tangible net worth in excess of $7 million and does not have an average net income in excess of $2.5 million after taxes for the preceding two years. Loans cannot be made to businesses engaged in speculation or investment in rental real estate. |
Geographic
coverage |
Nationwide |
Amount of
funding |
Amounts vary. |
Application
process |
Please see the program web site for application details.
|
| |
For more information contact:
SBA Answer Desk
1-800-U-ASK-SBA (1-800-827-5722)
TTY: 704.344.6640
answerdesk@sba.gov Summaries of funding programs are provided by RAC for your convenience. Please contact the funder directly for the most complete and current information. |
|
