Small enterprises trying to develop and expand their operations through the purchase of commercial real-estate and “go green” will benefit environmental surroundings and their important thing with as much as 90% fixed rate of interest funding beneath the SBA’s 504 Green Loan Program offered through Florida First Capital.
The trick to Financing Several SBA 504 Jobs
Companies whom be eligible for SBA 504 funding are qualified to receive multiple SBA second mortgages as high as $5.5 million per 504 green friendly task; nonetheless, the outstanding gross debentures granted for a small company concern, including its affiliates, should never go beyond $16.5 million when you look at the aggregate. These quantities aren’t paid down by virtually any SBA that is outstanding financing7a, Community Advantage, regular 504).
Furthermore, there’s no restriction on the level of the very first mortgage of the 504 task and so no project size that is maximum. Quite often, qualified borrowers with tasks surpassing $20 million can still get as much as 90% funding.
Great things about the 504 Green Loan system
- As much as 90% financing at below-market, fixed rates of interest – No interest that is future changes.
- As much as $5.5 million from the SBA second home loan part per task to not ever surpass $16,500,000 when you look at the aggregate. [Read more…] about Green living to Qualify for Additional SBA 504 funding.