504 LOANS FINANCE
HOW TO APPLY FOR A 504 LOAN
The 504 Process
Purchasing commercial real estate is a very big step, and for many it’s a once-in-a-lifetime occurrence. That’s why we work so hard to make our process as simple as possible. Growth Corp’s 504 Loan Process involves four phases. This simplified process begins with the first phase of analyzing limited financial information about the business, borrower and project. Phase two involves submitting a complete application for financing. The basic application materials are no different than what a bank typically requires. The first two phases are generally completed within 10 business days, if all items are provided. Phase three is the interim funding process, which generally occurs after SBA approves the project and issues a commitment for the 504 loan, with the funds being provided by the participating lender. Phase four completes the transaction with funds provided by Growth Corp through the sale of bonds after the project is complete.
Contact a Loan Officer
We are here to make the process simple for you. Contact any member of our Lending Team to get started!