What’s Your SBA Loan Eligibility?
To qualify for an SBA 504 Loan, a business is required to:
- operate as a for-profit business entity;
- have a private-sector lender commitment for up to 50% of project cost;
- provide an equity injection of 10 to 20 percent of project cost; and
- create/retain jobs or meet community development or public policy objectives.
Contact our staff in St. Cloud, Minneapolis or Detroit Lakes to find out your specific SBA loan eligibility. One of our representatives will contact you about our SBA loan requirements and your eligibility.
Learn how our step-by-step lending process can help you get the small business funding you need.