SBA 504 Loan Fact Sheet - Growth Capital Corp.
[Pages:2]SBA 504 Loan - Fact Sheet Commercial Real Estate & Equipment
Loan Size
? $125,000 to over $10 million
Interest Rate
? Fixed ? Fully amortized through the term of the loan ? Interest rates on 504 loans are set monthly at
the time of funding at an increment above the current market rate for five-year and ten-year U.S. treasury issues
Eligible Business Size
? Business net worth not to exceed $15 million ? Average net profit after taxes for 2
consecutive years not to exceed $5 million
Terms Available and Amortization ? 20 years fully amortized ? real estate loans
Periods
? 10 years fully amortized ? equipment loans
? No balloon payments
Loan Structure
? 50% Bank loan ? 40% CDC loan ? 10% Borrower down payment
Loan Purchase
? Purchase existing building ? Land acquisition and ground-up construction
(includes soft cost development fees) ? Expansion of existing building ? Finance building improvements ? Purchase equipment
Loan Program Requirements
? 51% Owner occupancy required for existing building
? 60% Owner occupancy required for new construction
? Equipment with a minimum 10 year economic life
Collateral Loan Fees
? Generally, the project assets being financed are used as collateral
? Personal guaranties of the principal owners of 20% or more ownership are required
? Fees are financed in the 504 loan ? Servicing fee (lowest allotted by SBA) for
CDC 504 plus a legal review fee
Please call Juan Hernandez or John Kropf at (216) 592-2332 for more information.
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