SBA Certified Development Company (504) Loan Program
SBA Answer Desk:
The 504 Certified Development Company (CDC) Program provides small businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. 504 Loans are potential options for healthcare practitioners who want to build a new office or expand/renovate an existing medical building.
504 loans may be used for fixed asset projects such as:
- Purchasing land and improvements, including existing buildings
- Grading, street improvements
- Parking lots and landscaping
- Construction of new facilities, or modernizing, renovating, or converting existing facilities
- Purchasing long-term machinery and equipment
The 504 Program cannot be used for working capital or inventory, consolidating or repaying debt, or refinancing.
To be eligible, the business must be operated for profit and fall within the size standards set by the SBA. Consult the program website for specific eligibility requirements.
According to the Federal Register, the 504 Rural Pilot, including the waiver of the restrictions in 13 CFR 120.839 on the CDC's authority to make loans outside their Area of Operations, has been extended through September 30, 2021.
Begin the process by choosing the Find Lenders link from the program website.
For complete information about funding programs, including your application status, please contact funders directly. Summaries are provided for your convenience only. RHIhub does not take part in application processes or monitor application status.