Daily Herald: SBA 504 Program Expands to Help More Small Businesses Access Capital

The SBA 504 loan program provides a long-term, fixed rate for business owners to build, buy, and refinance fixed assets – like commercial real estate and heavy equipment.

To increase the impact of the U.S. Small Business Administration’s (SBA) premier economic development initiative, the agency made enhancements to the SBA 504 loan program in 2024, including:

• Removing the $16.5 million cap on 504 Green Loans;
• Updating the Alternative Size Standard for inflation to expand access to capital for more mid-size businesses; and
• Modernizing the SBA 504 refinance program to streamline the loan process and expand borrower eligibility.

To learn more, check out this story via the Daily Herald by SomerCor Chief Lending Officer, Margaret Griffin, and download the program flyer.