The United States SBA 504 Loan program is planned to provide funding for the acquisition of the fixed assets for instance real estates, buildings, machinery and much more at a far lower rate than the market price. 504 loan program is one of the best plans that the Small Business Administration (SBA) has fashioned. We have put our utmost skill and practice of the extended years of expertise in the financial industry. Miner Capital Funding is structured and optimized for the best real estate and commercial loan providence. People are moving the steer towards our company not only for the loan but the best customer experience of our company. SBA 504 loan is something needed to be known properly.

LOAN SIZE Minimum – $125,000 Maximum – $10 million
INTEREST RATE Fixed
TERMS
  • 20 years – real estate
  • 10 years – equipment
LTV Up to 90%DOWN PAYMENT 10% borrower
ELIGIBLE BUSINESS SIZE
  • Business net value not to surpass $15 million
  • Average net revenue after taxes for 2 successive years not to surpass $5 million
LOAN STRUCTURE
  • 50% bank loan
  • 40% CDC loan
  • 10% debtor down payment
PROCEEDS USE
  • Buying existing building
  • purchase and ground-up construction (can comprise soft cost progresscharges)
  • Development of existing building • Finance building developments • Acquisition equipment
PROGRAM REQUIREMENTS
  • 51% proprietor occupancy for existing construction
  • 60% possessor occupancy for new building
  • Equipment need to have at least 10-year commercial life
COLLATERAL
  • Usually, project resources being funded are used as collateral
  • Individual guaranties of the mainholders of 20% or more proprietorship are compulsory
FEES
  • Fees are backed in the 504 loan
  • Fees are negotiated for the 50% bank loan
  • Servicing charge (lowermostpermitted by SBA) for CDC plus a authorized review charge
CLOSING TIME As soon as 45 days