The 504 Loan Program is aimed at empowering entrepreneurs and small businesses, to facilitate the acquisition of resources such as real estate and equipment, enabling sustained growth and development.
By providing a stable and predictable financial foundation, the 504 Loan Program empowers businesses to make strategic investments in their infrastructure, ultimately contributing to job creation and economic vitality.
Under the 504 Loan Program, businesses can secure a maximum loan amount of $5.5 million, providing essential financial support for fixed assets. Notably, for specific energy-related initiatives borrowers may obtain financing for up to three distinct projects, with the total not exceeding $16.5 million.
504 loans are available through Certified Development Companies (CDCs), SBA’s community-based partners who regulate nonprofits and promote economic development within their communities. CDCs are certified and regulated by SBA.
As a private non-profit organization, Business Lending Partners (BLP) is licensed by the U.S. Small Business Administration (SBA) as a Certified Development Company (CDC) to do SBA 504 lending.
BLP Works in partnership with borrowers’ financial institution throughout the state of Wisconsin. BLP acts as an administrator of the program and packages everything for SBA.
The U.S. Small Business Administration (SBA) 504 loan program was developed by Congress to assist growing businesses by offering an attractive financing option for real estate and equipment needs. The SBA administers the program with the objective of providing financing to projects that meet one of the following:
A variety of community loan funds, often referred to Revolving Loan Funds (RLFs), are available to growing businesses with financing needs. These are direct loan programs that partner with the customer’s financial institution to create financing packages that offer reduced cash equity requirements for the business, reduced interest rates and flexible loan terms on the RLF loan.