SBA 504 Loans: Where the Future of Your Business Begins

Is your small business growing rapidly? Do you need capital to take it to the next level? A Small Business Administration (SBA) loan from South Carolina Federal may be exactly what you need. SBA 504 loans are best suited for borrowers who are expanding their business

What’s an SBA 504 loan?

The SBA is a federal agency that helps established businesses grow by financing large, long-term fixed assets, including commercial real estate and equipment. As a borrower, you’re not borrowing from the SBA; you’re borrowing from a financial institution like SOUTH CAROLINA Federal. We work with the SBA to provide loans to small business members like you.

How is it different from a conventional loan?

  • Lower down payments with favorable terms and pricing—as little as 10% down
  • Longer loan amortizations—up to 20 years for commercial real estate purchases and 10 years for machinery and equipment
  • Real estate and equipment purchases can be wrapped into the same loan
  • Provides a long-term fixed interest rate.

What can I use it for?

  • Acquisition of land
  • Land improvements
  • Professional fees
  • Construction of new buildings (business owner to occupy at least 60% with plans to occupy 80%)
  • Purchase of one or more existing buildings (business owner to occupy 51%)
  • Remodel, convert, expand, or renovate existing building(s)
  • Leasehold improvements
  • Acquisition of machinery and equipment
  • Expansion refinancing
  • Non-expansion refinancing

Ready to apply?

Make sure you have all the required forms of identification for your business type.

Contact a Business Services Officer to get started.

Rate may vary based on individual creditworthiness
Terms and conditions subject to change without notice
Subject to credit approval

 
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