The 504 loan is designed for business owners who plan to expand their operations through land acquisition, building acquisition or construction or finance machinery or equipment purchase.
|Ideal For||Business owners who want a long-term fixed rate or adjustable rate loan to purchase, expand or construct owner-occupied real estate or purchase major, long-term (i.e. 10 year or longer usage projection) equipment. Businesses must meet SBA guidelines.|
|How it Works||Backed by the SBA, the 504 loan is generally is funded from three sources: Wells Fargo, the SBA and equity from the borrower.|
There is also a requirement to meet certain local economic objectives, such as revitalization and redevelopment, income generation or business development.
Plus, benefit from longer terms and amortization and below market rates, compared to other types of business financing.
|Does it work for you?||Ask a Business Banker. We have more than 6,200 stores to serve you. Find the one closest to your home or office.|
|Credit Amount||Term Loans from $150,000 to $6,000,000 (up to $5,000,000 for public policy loans or $5,500,000 for manufacturing companies).|
|Fees||Generally 3.5% of SBA debenture amount and this fee may be financed in the loan.|
|For More Information|
|How to Apply|