Smaller businesses trying to develop and expand their operations through the purchase of commercial estate that is real “go green” will benefit the 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 Multiple SBA 504 Jobs
Business people whom be eligible for SBA 504 funding could be qualified to receive multiple SBA second mortgages as high as $5.5 million per 504 green friendly task; nevertheless, the outstanding gross debentures released for a small company concern, including its affiliates, should never go beyond $16.5 million within the aggregate. These quantities aren’t paid off by every other outstanding SBA funding (7a, Community Advantage, regular 504).
Also, there isn’t any limitation from the level of the first home loan of a 504 task and so no project size that is maximum. Oftentimes, qualified borrowers with tasks surpassing $20 million can certainly still get as much as 90% funding.
Great things about the 504 Green Loan system
- As much as 90% funding at below-market, fixed interest levels – No future rate of interest changes.
- As much as $5.5 million from the SBA second home loan part per task never to meet or exceed $16,500,000 when you look at the aggregate. (suite…)