SBA 504 Loans
If your business is struggling to find financing for land, buildings, or equipment, Madison One CUSO can help you explore your SBA 504 loan options.
Ready To Explore Your SBA Loan Options?
An online SBA 504 loan calculator can give you an idea of potential payments or loan terms, but it can’t tell you if you’re eligible—or if a 504 loan is actually right for you. Speak with an expert at Madison One CUSO to get professional recommendations about SBA and USDA loans and learn if you’re a good candidate for financing.
How Can My Business Use an SBA 504 Loan?
SBA 504 loans have similar eligibility requirements and benefits to 7(a) loans, with a smaller range of applications. Borrowers must use 504 funds for assets that promote job creation and business growth, such as:
- Land or building purchases
- The construction or renovation of new or existing facilities
- Improvement of exterior amenities, like parking lots, streets, or landscaped areas
- Machinery and equipment acquisitions
Businesses cannot use SBA 504 for investment and multifamily property financing or working capital.
Our SBA 504 Loan Application Process
Madison One CUSO is more than a lender—we’re your guide throughout the loan application process, whether you’re interested in an SBA 504 loan or the USDA REAP program. Our goal is to simplify the loan process, provide recommendations that offer your business the best loan terms and rates, and secure financing in as little time as possible.
1. Loan Consultation
In a 15-minute phone call, we can determine your eligibility and recommend a loan program (or several, depending on your needs).
2. Documentation Collection
To ensure we have a good chance of securing your loan, we collect all the documentation needed to confirm your eligibility.
3. Term Sheet Issuance
Our team creates a term sheet outlining your loan details, amount, and rates. If you agree to the terms, you sign, and we move forward.
4. Business Analysis and Underwriting
Once you sign the term sheet, we analyze your business history, financial statements, and credit before underwriting your loan.
5. Application Submission
We submit your credit memo to our credit union partners. If they approve, we send your SBA application to ensure they will guarantee the loan.
6. Loan Closure and Ongoing Support
If the SBA approves your loan, we draw up documents and close your loan. From there, our team is always available to answer questions and help you secure more financing.
Get Expert Guidance Throughout the SBA Loan Application Process
Madison One CUSO is more than an SBA lender. We’re a partner that guides our business members through the financing process, and we use our extensive experience to find funding solutions other lenders can’t offer. With two credit union partners and the ability to work with third-party banks, we can offer a combination of loans to get you the amount of capital you need.
Whether you’re new to SBA loans or well-versed in your government-guaranteed loan options, our team is here to answer your questions, offer support, and find the best solutions for your small business.
Contact Our SBA 504 Loan Experts
