What does the SBA 504 loan offer?
Here is a brief summary of what the SBA 504 loan might do for you. Similar to the SBA 7(A) loan but a little more selective on what it is allowed to lend against.
Purpose - Real estate purchase/construction. Purchase machinery or equipment.
Loan - Up to $10,000,000.
Collateral - Commercial real estate, equipment, machinery.
Term - Varies, up to 25 years.
Rate - Fixed or variable.
Eligibility - Owner operated. (No C-stores, gas stations or hospitality).
Loan to value (ltv) - Varies, up to 90%.
When looking for a new commercial mortgage, consider speaking with a commercial mortgage broker who should be able to give you several loan products to think about.
Jason
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