Am I eligible for an SBA 504 loan?
Nearly all for-profit businesses are eligible for the SBA 504 program.
Occupancy: For existing real estate, the applicant’s business must occupy at least 51% of the property being purchased within one year of funding.
For new construction, the applicant’s business must occupy a minimum of 60% of the property.
Size Standard: Tangible net worth of the business cannot exceed $15 million. After–tax profit for the last two years cannot exceed $5 million.
Alternatively, size standards based on number of employees can also be met.
Personal net worth of the business owner is not a factor.
TMC’s 35+ years of experience and extensive knowledge of SBA regulations can help you quickly review your eligibility. We are happy to work with you when you are just getting started, even before you find a property to purchase.