The Small Business Administration ‘ s 504 program has operated in the shadow of the larger , more popular 7 ( a ) loan guarantee program throughout its 60 – year – history . This year is proving to be an exception .
SBA officials , as well as lenders at the certified devel – opment companies that participate in every 504 loan , ascribe much of the program ‘ s recent growth to a 25 . year lending product introduced in April 2018 . Prior to that , 20 years was the longest term for a 504 loan .Continue