The 504 Loan Program is owner-occupied real estate and equipment financing.

Growth Corp’s 504 Loan Program helps provide small businesses with better access to money for expansion than would otherwise be available through conventional financing.  The 504 Loan Program is available to most businesses for the purchase, construction, or expansion/renovation of buildings and/or the purchase of equipment.

1.    Economic development
2.    Job creation/retention
3.    Growth of small businesses
            •   Purchase or construction of buildings
            •   Purchase of machinery or large equipment
            •   Low down payment
            •   Fixed long-term financing

The 504 provides borrowers 90% financing at a long-term, below market, fixed rate...
In most cases, the 504 Loan Program can provide up to 90% financing, allowing borrowers to preserve working capital and receive a low, long-term fixed rate.  
The Program essentially consists of three components:

1.   50% of the project’s total cost is provided         by a lending institution, usually a bank.   2.   40% is provided by Growth Corp; and   3.   10% equity is provided by the applicant          small business/borrower*

* Higher equity requirements exist for start-up or leveraged companies and/or projects involving acquisition or construction of limited or single-purpose real estate.

If you are a small business considering the 504 Loan Program, please visit our Borrowers Page for more details.

If you are a lender interested in becoming a partner in 504 Loan Program, please visit our Lenders Page for more details.