Financial support amounts vary for each and every mortgage but may depend on $15 mil
Down-payment: Like a 7(a) loan, the SBA requires at least a 10% equity to put toward the down payment for a 504 loan. In most scenarios, the down payment will be 10-20%.
Personal pledges: SBA loans require a personal guarantee from individuals who own 20% or more of the business applying for the loan.
Choosing the right lender: Again, it’s best to work with an SBA-preferred lender who can help you decide if a 7(a) or 504 loan will work for you. Continue Reading
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