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%