Loan Amount
$50,000 to $1,000,000
Eligibility/Use Of Funds
Fixed assets; building purchase and construction; no prevailing wage.
Incentive/Benefit
Low down payment; fixed rate; extended term (20 years for real estate;
10 years for machinery and equipment).
Rate/Term
40% of total project cost, up to $1,000,000; rate of approximately
1-2% above long term Treasury Bond Rate; fixed term of 10 or 20 years;
10% equity required.
Requirements
One job created for each $35,000 of SBA loan portion; meet the
following SBA small business criteria:
- Business must be a for-profit corporation, partnership, or sole
proprietorship
- Net worth must not exceed $6 million
- Average net profit after taxes must not exceed $2 million or the
preceding two years.
- Business must fall within SBA size standards. In most
industries, this denotes companies with less than 500 employees.
- Only businesses occupying and operating within a site receiving
loan proceeds are eligible. Investment landlords are not eligible.
- An SBA-504 loan is appropriate if total financing for your
project is not available from private sources.
Further Information/Contact
Certified Development Company of Butler County (513) 887-3404
or visit
www.sba.gov/financing/sbaloan/cdc504.html
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