Small Business Administration 504 Program

The SBA 504 Business Loan Program (SBA 504) is a fixed asset loan program for larger projects (generally up to $15,000,000 of total eligible project costs) offered by the Catawba Regional Development Corporation. SBA 504 funds combined with bank financing can be a powerful economic development tool, funding up-to 90% of a total project. These funds are available to new and expanding businesses for the purpose of increasing the local tax base and creating jobs.  Owner equity injection is required. A competitive interest rate and 10, 20, or 25 year term can significantly lower overall debt service providing improved cash flow for the business. The interest rate is fixed for the term of the loan.

The application process includes submitting projections, business financials, personal financial statements, and an outline of project costs. Business Plans are required for start-up companies. Cash flow, credit history, and collateral will be considered in the loan review process.
Eligible Companies For profit industrial, commercial, service, and retail companies are eligible for SBA 504 funds. 

Loan Program Information:

• Loan Amounts – $50,000 – $5,000,000 (Manufacturing firms up to $5,500,000)
• Maximum Loan Amount - 40% of total project costs up to $5,000,000 (Manufacturing firms up to $5,500,000)
• Interest Rate – Fixed
• Term – 10, 20, or 25 years
• Legal Fees – Varies
• Prepayment Penalty – Applies only during first half of loan term
• Job Creation – Create or retain one job for every $90,000 loaned
• Uses - Building purchase/expansion, equipment, land, machinery, refinance, working capital
• Eligible Counties - All South Carolina Counties

For additional information, please contact our office at crcog@catawbacog.org or 803-327-9044.