SBA 504 Loan Program

Depending on the size, age and goals of your business, an SBA 504 loan could be just what you need to succeed. SBA 504 loans are partially funded by the Small Business Administration and available to qualified business owners looking to purchase long-term assets, upgrade existing assets, or purchase real estate.

Get Ahead With A SBA 504 Loan

In addition to the expertise and personalized support of a nation-leading lender, when you get an SBA 504 loan through BayFirst, you can also expect:

No limit on the conventional first mortgage of a 504 loan (or $5.5 million for eligible energy-efficient projects)
Financing up to 90 percent of eligible project costs
Fixed interest rates
A low down payment requirement
10-, 20-, or 25-year terms
Streamlined processes

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Why BayFirst?

When you borrow or refinance using an SBA 504 loan from BayFirst, you get the powerful backing of one of the nation’s top SBA lending divisions, fast access to your funds thanks to our SBA Preferred Lender status, and the personal attention and guidance our experts provide at every turn.

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SBA 504 Loan Uses:

The SBA’s 504 loan can be used to fund a wide range of assets that promote business growth and job creation. Uses include the purchase or construction of:

Existing buildings or land
Long-term machinery and equipment
New facilities

SBA 504 Loans can also be used for the improvement of:

Land, streets, utilities, parking lots and landscaping
Existing facilities

What's Next? Get Started

Our streamlined processes and advanced technology make applying for your SBA 504 loan easy. But first you’ll need to provide the Certified Development Company (CDC) and BayFirst with a wide range of documentation. Then:

Apply

Contact us to get started.
Get Approved

In as little as 10 days, we will let you know if you qualify and for how much.
Get to Work

Start using your funds to grow your business.

SBA 504 Loan FAQ

The SBA 504 Loan Program provides financing for economic development and investment in fixed assets, the results of which increases productivity and creates new jobs. The program provides long-term, low down payment, reasonably priced fixed-rate financing to healthy and expanding businesses that qualify.

Certified Development Companies (CDCs) – which are nonprofit corporations that promote economic development – will coordinate and structure the agreements between the CDC, borrower and a third-party lender such as BayFirst. Typically, the 504 loan consists of a conventional first mortgage, usually for 50 percent of the project cost, from a third-party lender. The SBA-backed portion of the 504 loan will be in the form of a second mortgage, financing up to 40 percent of eligible project costs. The small business owner will be required to pay the remaining 10 percent.

It depends on your borrowing history and business, but 504 loans are typically capped at $5 million with the maximum lending amount being $5.5 million for eligible energy-efficient projects.

An SBA 504 loan can be used for only long-term projects such as buying a building, financing a new construction, or purchasing heavy machinery and equipment. An SBA 7(a) loan, on the other hand can be used for short-term or long-term working capital and to purchase an existing business, refinance business debt, or purchase furniture, inventory and supplies.

There are sometimes guarantee fees that are around 3% of the loan, however, these can sometimes be waived or financed in the loan.

Have More Questions?

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SBA 504 Loan Program

Get Ahead With A SBA 504 Loan

Why BayFirst?

SBA 504 Loan Uses:

What's Next? Get Started

Our streamlined processes and advanced technology make applying for your SBA 504 loan easy. But first you’ll need to provide the Certified Development Company (CDC) and BayFirst with a wide range of documentation. Then:

Apply

Get Approved

Get to Work

SBA 504 Loan FAQ

What is the purpose of the SBA 504 Loan Program?

How does an SBA 504 Loan work?

How much can I take out for a 504 loan?

What is the difference between SBA 504 and SBA 7(a) loans?

Are there fees with an SBA 504 loan?

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