Smaller businesses trying to develop and expand their operations through the acquisition of commercial property and “go green” will benefit environmental surroundings and their main point here 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 Tasks
Business people whom be eligible for SBA 504 funding can be qualified to receive multiple SBA 2nd mortgages as much as $5.5 million per 504 green project that is friendly but, the outstanding gross debentures released for a small business concern, including its affiliates, should never surpass $16.5 million when you look at the aggregate. These quantities aren’t paid down by just about any outstanding SBA funding (7a, Community Advantage, regular 504).
Furthermore, there isn’t any restriction regarding the quantity of the very first home loan of a 504 task and so no project size that is maximum. Oftentimes, qualified borrowers with jobs surpassing $20 million can still obtain as much as 90% funding.
Great things about the 504 Green Loan system
- As much as 90% funding at below-market, fixed rates of interest – No interest that is future changes.
- As much as $5.5 million regarding the SBA second mortgage part per task not to ever surpass $16,500,000 when you look at the aggregate. Continue reading