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SBA 504 Loan Guide
The SBA 504 Loan program is a great way for small businesses to get the financing they need to grow. This guide will help you understand how the program works and how to get started.
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The program
Get an SBA 504 Loan for Your Small Business
If you're looking for a way to purchase real estate, heavy equipment, or other fixed assets for your small business, an SBA 504 loan could be a fantastic solution. In fiscal year 2025, the SBA approved 6,762 loans totaling $7.8 billion in SBA-guaranteed 504 debentures (SBA data via Eagle Compliance, the program's fiscal agent), up from $6.66 billion in FY2024. Here are a few facts about the SBA 504 loan:
Loan Size
SBA 504 loans don't truly have a maximum, but most loans are between $1 and $5 million.
Loan Term
Up to 25 years
Interest Rates
Fixed for the life of the loan at a rate set at the monthly SBA debenture sale; at the July 2026 sale, debenture rates were 5.04% (25-year), 5.01% (20-year), and 4.69% (10-year)
Loan Use
Land, real estate, heavy equipment, and other fixed assets. 504 loans are not allowed for working capital.
Credit Score
No official minimum score set by the SBA, but lenders typically require scores of 680+
Down Payments
Minimum 10% down payment required for most borrowers
Timing
Typically takes between 65 to 75 days to close on real estate loans; heavy equipment loans may close faster
90%
maximum financing on eligible 504 projects, with as little as 10% down
25 yrs
fully amortizing fixed-rate terms, with 10- and 20-year options
5.04%
25-year debenture rate set at the July 2026 monthly sale
$5.5M
maximum SBA debenture for small manufacturers and eligible energy projects
Eligibility
SBA 504 Loan Terms and Requirements
If you want an SBA 504 loan, your business will have to meet certain requirements, including:
Must be within the SBA size limit for your specific industry
Cannot be involved in lending, real estate investing, gambling, speculation, or illegal businesses
Your business typically must demonstrate that it will create jobs in the area in which it is located
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