SBA Business Administration (SBA) 504 Program
The SBA 504 Program provides long-term fixed-rate financing for small businesses for fixed assets such as land and buildings that will help create new employment opportunities or retain existing jobs. 504 loans are made through the SBA’s community-based partners, Certified Development Companies (CDCs). The majority of these loans are obtained by existing businesses looking to expand their operations. Typically a borrower is required to either create or retain one job for every $50,000 of total project cost.