25-YR FIXED RATE
20-YR FIXED RATE
10-YR FIXED RATE
empowering economic growth
504 loan program
If you answer “YES” to the following questions, your project will likely qualify for the 504 Loan Program!
- Will the project finance fixed assets such as building construction, the purchase of an existing building and/or long-term equipment?
- Is the business for-profit and located in the United States?
- 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
- 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!
- Is the loan to be refinanced at least two years old?
- Is the property being refinanced at least 51% owner-occupied OR long-term equipment?
- Was the debt to be refinanced originally used for the purchase or improvement of fixed assets?
- Has the business been current on the debt to be refinanced for the past 12 months?
Growth Corp is the top CDC in Illinois, the largest 504 Lender in Chicago and a top ten 504 Lender Nationwide, but we're still just a small, focused team working together every day to make the 504 process the best it can be.
We know that when it comes to 504 loans, it's about much more than just getting an approval. It's the ease-of-mind that comes from knowing Growth Corp's team has their finger on the pulse of the process from application to funding and even beyond into long-term servicing. It's knowing you will be informed every step of the way by the point-person responsible for overseeing the closing of your loan. It's knowing that, given Growth Corp's extremely low turn-over, you'll have the same experienced team members continuing to serve you year-after-year.
SBA recognized Growth Corp as an Accredited Lender after a thorough review of its policies, procedures and prior performance. The prestigious ALP status grants Growth Corp increased authority to process and close 504 loans, which results in an expedited process for both borrowers and lending partners. In addition, under the SBA 504 Express Loan Program for ALP Lenders, Growth Corp will soon be granted the authority to approve, authorize, close and service SBA 504 loans of $500,000 or less under the recent COVID-19 relief legislation (pending implementation by SBA).
Quality, accuracy and quick turn-around times are just some of the reasons why Growth Corp is the top CDC in Illinois, the largest 504 Lender in Chicago and a top ten 504 Lender nationwide. But, remember, we're just a small team working together every day to make the 504 Loan process the best it can be.