FINANCE UP TO $5.5 MILLION

The SBA recently announced that businesses may now qualify for up to $5.5 million on the SBA portion of a 504 loan (second mortgage, typically 40% of the total loan amount).

HOW TO QUALIFY

Reduce energy consumption by 10% or more:

• Use hybrid or alternative fuel vehicles
• Use energy-efficient appliances
• Install a more efficient HVAC system
• Improve insulation (windows & skylights)

OR generate renewable energy or renewable fuels:

• Solar panels
• Wind turbines

There is still no limit on the amount of the bank’s portion of the loan (first mortgage), and therefore no maximum project size. In addition to reducing energy costs, the cost of these improvements can be financed into the total project cost, giving your business the additional benefit of long-term, fixed rate financing on these energy saving improvements.

If you are interested in improving your business’s energy efficiency and use, contact us to learn how your business can become more eco-friendly and take advantage of long-term, fixed rate financing through the SBA 504 loan program.