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SBA 504 Loan Guide

The SBA 504 Loan program is a great way for small businesses to get the financing they need to grow. This guide will help you understand how the program works and how to get started.

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The program

Get an SBA 504 Loan for Your Small Business

If you're looking for a way to purchase real estate, heavy equipment, or other fixed assets for your small business, an SBA 504 loan could be a fantastic solution. In fiscal year 2025, the SBA approved 6,762 loans totaling $7.8 billion in SBA-guaranteed 504 debentures (SBA data via Eagle Compliance, the program's fiscal agent), up from $6.66 billion in FY2024. Here are a few facts about the SBA 504 loan:

Loan Size

SBA 504 loans don't truly have a maximum, but most loans are between $1 and $5 million.

Loan Term

Up to 25 years

Interest Rates

Fixed for the life of the loan at a rate set at the monthly SBA debenture sale; at the July 2026 sale, debenture rates were 5.04% (25-year), 5.01% (20-year), and 4.69% (10-year)

Loan Use

Land, real estate, heavy equipment, and other fixed assets. 504 loans are not allowed for working capital.

Credit Score

No official minimum score set by the SBA, but lenders typically require scores of 680+

Down Payments

Minimum 10% down payment required for most borrowers

Timing

Typically takes between 65 to 75 days to close on real estate loans; heavy equipment loans may close faster

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Eligibility

SBA 504 Loan Terms and Requirements

If you want an SBA 504 loan, your business will have to meet certain requirements, including:

Must be within the SBA size limit for your specific industry

Cannot be involved in lending, real estate investing, gambling, speculation, or illegal businesses

Your business typically must demonstrate that it will create jobs in the area in which it is located

All SBA 504 requirements

From the blog

Popular articles

504 Refinancing ProgramIn addition to the standard 504 loan program, the SBA also now offers the 504 refinancing program. These loans are important tools that allow business owners to refinance existing debt into a 504 loan. SBA 504 Loan requirementsWhile they are not as stringent as some other types of loans, you will find a wide range of eligibility requirements when it comes to the 504 loan program. These apply to you (the borrower), but also to lenders, and even the project you're about to embark on. SBA 504 Loan ratesThat's a vital question to ask, but there is no simple answer. One reason that there's no simple answer is that you will not have a single interest rate. SBA 504 Business Loan CalculatorThe SBA 504 loan could be exactly what you need to grow your organization. But before you borrow for your business, it's important to understand exactly how much you'll be paying back.

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