Alternative Eligibility Criteria for SBA 504


A Project that achieves any of the following community development or public policy goals is eligible if the CDC's overall portfolio of 504 loans, including the subject loan, meets or exceeds the CDC's required Job Opportunity average. Loan applications must indicate how the Project will meet the specified economic development objective.

Community Development goals:

  • ‚ÄčImproving, diversifying or stabilizing the economy of the locality.
  • Stimulating other business development.
  • Bringing new income into the community.
  • Assisting manufacturing firms (North American Industry Classification System (NAICS), Sectors 31 “ 33).
  • Assisting businesses in Labor Surplus Areas as defined by the Department of Labor.

Public Policy goals:

  • Revitalizing a business district of a community with a written revitalization or redevelopment plan.
  • Expansion of exports.
  • Expansion of small businesses owned and controlled by women.
  • Expansion of small businesses owned and controlled by veterans (especially service-disabled veterans).
  • Expansion of minority enterprise development.
  • Aiding rural development.
  • Increasing productivity and competitiveness (retooling, robotics, modernization, competition with imports).
  • Modernizing or upgrading facilities to meet health, safety, and environmental requirements.
  • Assisting businesses in or moving to areas affected by Federal budget reductions, including base closings, either because of the loss of Federal contracts or the reduction in revenues in the area due to a decreased Federal presence.
  • Reduction of rates of unemployment in labor surplus areas, as such areas are determined by the Secretary of Labor.

SBA 504

August 2017

20-Year Fixed Rate:

4.537%

10-Year Fixed Rate:

4.497%

Historical Rate Graph