Small enterprises seeking to develop and expand their operations through the purchase of commercial estate that is real “go green” can benefit the environmental surroundings and their important thing with as much as 90% fixed interest funding beneath the SBA’s 504 Green Loan Program offered through Florida First Capital.
The key to Financing Several SBA 504 Tasks
Business people who be eligible for SBA 504 funding can be qualified to receive multiple SBA second mortgages all the way to $5.5 million per 504 green project that is friendly but, the outstanding gross debentures given for a small company concern, including its affiliates, should never go beyond $16.5 million when you look at the aggregate. These quantities aren’t paid down by any kind of outstanding SBA funding (7a, Community Advantage, regular 504).
Furthermore, there’s no restriction from the number of the first mortgage of the 504 task and so no project size that is maximum. Most of the time, qualified borrowers with jobs surpassing $20 million can certainly still get as much as 90% funding.
Advantages of 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 in the SBA second home loan part per project to not meet or exceed $16,500,000 within the aggregate. Continue reading