District of Columbia Small Business Administration Loan Application Form and Checklist
Description
How to fill out Small Business Administration Loan Application Form And Checklist?
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FAQ
A Certified Development Company (CDC) provides up to 40% of the financing through a 504 debenture (guaranteed 100% by the SBA); A third party lender provides 50% or more of the financing; The borrower contributes at least 10% of the financing.
SBA 504 loans have very long terms ? up to 25 years ? and can be used to finance real estate or equipment purchases. They are funded by Certified Development Companies, or CDCs, and financial institutions. You'll need to put at least 10% down.
SBA 504 loan requirements include: Net worth of less than $15 million. Average net income of less than $5 million for the two years prior to the application. You must be financing a major fixed asset purchase, upgrade or other eligible use case.
Understanding the SBA 504 Loan Structure The typical financing structure for a SBA 504 loan is a 50-40-10 partnership. The third-party lender (bank or credit union) will finance 50% of the project; SETEDF/SBA finances 40% and; the borrower provides at least 10% equity injection.
How are SBA 504 effective rates calculated? In a nutshell, SBA 504 interest rates are tied to the bonds that are sold to institutional investors, and the interest rates are typically reflective of 10-year U.S. Treasury bond rates, which are long-term, fixed-rate assets.
