Eligible Businesses for SBA 504 Loans
In order to be eligible for an SBA 504 Loan, the business must be:
- a type that meets SBA’s criteria
- an operating business organized for-profit,
- small under SBA’s size requirements. “Small” means a net worth <$15MM and two year average net profit after taxes <$5MM or meet SBA’s other size standards,
- located in any area of the United States with the collateral in Montana, and
- an owner-occupied property or actively used property. “Actively used” examples are hotel, motel, and residential care facilities.
- using the equipment, if applicable