SBA 504 Program

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Designed for businesses with a net worth under $15 million, this loan has a higher limit, making it your go-to for larger projects. The 504 program involves two loans — one from Highland Bank and the other from a Certified Development Company (CDC) – which you can put into service for real estate, construction, equipment, expansion and more.

Features & Benefits

Terms of 10 to 25 years with lower payments
Below-market fixed rates
Smaller down payment and no balloon payments

Flexible eligibility requirements

Main Benefit
Qualifications
Additional Benefits to Borrower
Maximum Loan Amount
Use of Proceeds

- SBA 7(a) Program
- Maximum flexibility in structure, terms and uses
- Must qualify as a small business according to SBA guidelines. Size varies by industry type. Limitations are set by total revenues or number of employees, depending on industry. More than 95% of U.S. businesses are classified as “small” by SBA standards. Most manufacturing, wholesale, service and retail businesses are eligible for 7(a) financing.
- Loan terms up to 25 years and lower payments
- Fully amortized terms with no balloon payments
- Flexible use of loan proceeds
- Competitive rates
- Export working capital loans available
- Preferred SBA Lender Program for quicker approval
- Loans up to $5M with SBA limits of $3.75M on the guaranteed portion for any one business and its affiliates
- - Real estate purchase
  - Acquisition
  - Renovation
  - Construction
  - Equipment purchase
  - Start-up capital
  - Refinance
  - Franchise financing
  - Working capital
  - Expansion
- SBA 504 Loans
- Lower down payments, fixed rates and longer terms for businesses with net worth under $15M
- Tangible net worth may not exceed $15M and after-tax net profits must have averaged less than $5M during the previous 2 years of operation.
- Loan terms of 10-25 years and lower payments
- Below-market fixed rates on SBA financing
- Debenture allows larger projects
- Fully amortized terms with no balloon payments
- Smaller down payment required
- Flexible eligibility requirements
- Loans up to $5.5M for manufacturing businesses or energy-efficient projects valued at up to $11M
- - Real estate purchase
  - Acquisition
  - Renovation
  - Construction
  - Equipment purchase
  - Expansion
- SBA Express Loans
- Streamlined application and underwriting for amounts under $500,000
- Must qualify as a small business according to SBA guidelines. Size varies by industry type. Limitations are set by total revenues or number of employees, depending on the industry. More than 95% of U.S. businesses are classified as “small” by SBA standards. Most manufacturing, wholesale, service and retail businesses are eligible for SBA Express financing.
- Terms up to 10 years
- Working capital lines of credit
- Streamlined loan review process
- Competitive rates
- Flexible eligibility requirements
- Loans up to $500,000
- - Revolving line of credit to finance short-term business working capital