Community Business Finance's 504 Loan Program can provide financing for most types of businesses. There are very few business types that are not eligible.
Eligibility Criteria
- Business must be a legal entity - corporation, partnership, sole proprietor, limited liability company
- Owners must be U.S. citizens or legal permanent residents
- Business must be located in the United States
- Net worth under $15 million and net profits under $5 million (2-year average)
- Economic development goals must be achieved through the project financing
Ineligible Businesses
- Non-profit businesses
- Businesses engaged in lending, a passive holder of real estate and/or personal property (such as apartments), or a life insurance company (an insurance agency is eligible)
- Has restriction on patronage
- Is a government-owned entity (exception for Native American tribes)
- Engaged in promoting religion
- Consumer and marketing cooperatives (producer cooperatives are eligible)
- Engaged in loan packaging
- Has associates who are incarcerated, on probation, on parole or have been indicted for a felony
- Equity interest by lender, CDC or associates in applicant concern
- Provides prurient sexual material
- Has previously defaulted on a federal loan
- Engaged in political or lobbying activities
- Speculative businesses