Current Interest Rates: 25-Year: 4.77% | 20-Year: 4.64% | 10-Year: 4.65% | Refi: 4.68%

empowering economic growth

504 loan program

No-Cost Pre-Qualification

If you answer “YES” to the following questions, your project will likely qualify for the 504 Loan Program!


  1.    Will the project finance fixed assets such as building construction, the purchase of an existing building and/or long-term equipment?
  2.    Is the business for-profit and located in the United States?
  3.    Does the business, including affiliates, have a tangible net worth of less than $15 million, and after-tax profits, averaged over the last two years, of less than $5 million
  4.    Will the business occupy at least 51% of the project property for existing buildings, or 60% of the project property for new construction?  OR, will the equipment be used for business operations?

If you answer “YES” to the following questions, your project will likely qualify for a 504 Refinance Loan!


  1.    Is the loan to be refinanced at least two years old?
  2.    Is the property being refinanced at least 51% owner-occupied OR long-term equipment?
  3.    Was the debt to be refinanced originally used for the purchase or improvement of fixed assets?
  4.    Has the business been current on the debt to be refinanced for the past 12 months?

It Appears I’m Qualified…Now What?

We’re here to make the process simple for you.  Contact any member of our Lending Team to get started!

Phase One

The first phase involves discussing your business and the project to be financed with one of our Loan Officers.  They will also analyze limited financial information about the business, its borrower(s) and the project.

Phase Two

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.

Phase Three

Phase three is the interim funding process, which generally occurs after SBA approves the project and issues a commitment for the 504 loan.  The project funds are then provided by the participating lender.

Phase Four

Phase four completes the transaction with funds provided by Growth Corp (through the sale of bonds after the project is complete) to pay down the participating lender for up to 40% of the total project costs.
How Will You Grow Your Business?

877-BEST 504


Central IL Office 217.787.7557   |   Chicago Office 773.880.1455  |  Southern IL Office 618.932.3786

Contact a Loan Officer