The Small Business Administration’s s 504 programs 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 development 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.