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Find Answers to Your Questions

Does the loan process take a lot of time?

No, it generally takes 2-3 weeks from the time we get the completed application

Is the 504 loan assumable?

Yes, provided company qualifies from credit standpoint

Is the application extensive?

The 504 application requires little more than is required by the normal lender

Is there a prepayment penalty?

Yes, but only for the first half of the loan

Aren’t significant restrictions with all SBA loans?

Not necessarily. The 504 loan has few management restrictions

Aren’t SBA loans just for start-up or high-risk businesses?

Some are, but the 504 is targeted to existing businesses who need to expand

Can a start-up business qualify?

Yes, however, the down payment requirement increases to at least 15%