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Looking to expand or modernize your small business? Then SBA’s 504 Loan Program is designed especially to help small businesses grow.

Highlights include:

Borrower Benefits

  • Low down payment of only 10%
  • Long repayment terms – reducing monthly payments
  • Frees up cash flow to expand your business
  • Many rate options including long term fixed rates
  • Associated fees and soft costs may be financed in the loan

Loan Amounts

  • Available up to $ 5,000,000

Use of Proceeds

  • Purchase, refinance, construction, or renovation of owner-occupied commercial real estate
  • Purchase and installation of long-life machinery and equipment.

Standard Loan Structure

  • 50% financing first mortgage through Resurgens Bank
  • 40% financing through SBA 504 second mortgage (provided through a local Certified Development Corporation (CDC))
  • 10% minimum down payment by the borrower (15% in the case of special use properties)

Terms for First Mortgage

  • Up to 30 years, fully amortized
  • Competitive rates available
  • Prepayment penalty applies and based on various factors

Terms for First Mortgage

  • 20 years, fully amortized
  • Fixed rate is determined at SBA – guaranteed 504 debenture sale
  • Fees set by CDC
  • Prepayment penalty for initial 10 years, none after the end of year 10