How do you determine if I am eligible for an SBA 504 loan?
To be eligible for the SBA 504 program, each business must meet the following criteria:
- Operate as a “for profit” business.
- Be considered a “small business” under SBA’s size standards:
- Under the 504 Program, the business qualifies as small if it does not have a tangible net worth more than $15 million and does not have an average net income more than $5 million after federal taxes for the preceding two years.
- If these standards are exceeded, the business can still qualify for the program by meeting other SBA size standards based on either the number of employees or annual revenue, depending upon the industry. Loans made to the owner-occupied real estate. For a quick no cost eligibility screening, please contact a BLP staff member. Read more on Eligibility criteria.