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SBA 504 Program

SBA 504 Program

SBA 504 Loan Details

Loan Purpose: Owner occupied commercial real estate purchase, including equipment or other fixed assets (no working capital).

Loan Amount: $1,000,000 to $8,000,000 (first lien only) total transaction size from $2,000,000 to $16,000,000).

Equity Requirement: Contingent upon type of loan

  • 10% down for general purpose real estate acquisition & new construction
  • 15% down for startups or special use real estate
  • 20% down for special purpose in conjunction with a startup

Working Capital: Is not an eligible use of proceeds

Interest Rate: Competitive Risk Based Pricing: CSB First Lien competitive rate. SBA 504 debenture second mortgage is a 20-25 year fixed rate that is historically below market rates.

Term: Up  to 25 years with no balloons or calls—fully amortizing over the life of the loan. CSB has a loan term up to 25 years. SBA 504 debenture second mortgage has a loan term up to 25 years.

Prepayment Penalty: Prepayment penalties will apply.

Collateral: First lien and second lien on all assets being financed.

Personal Guarantees: For all individuals owning 20% or more. Corporate guarantees of affiliated companies may be required.

Industries: All for-profit businesses that meet SBA eligibility requirement.

Timing: We can work at your pace of providing the necessary information.  Term Sheets in 24/48 Hours. Loan approval in 5-10 days.  Loan closings are generally 45-60 days from submission. However, loans are subject to CDC/SBA approval.

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