The eligibility requirements for an SBA 504 loan for a landscaping company are as follows:

• The business must be a for-profit, operating in the United States
• The business must occupy at least 51% of the project property
• The business must have a tangible net worth of less than $15 million and an average net income of less than $5 million after taxes for the past two years
• The business must be able to demonstrate the ability to repay the loan

For more information, please visit SBA 504 Loans for Landscaping Companies.

An SBA 504 loan can be a great option for landscaping companies looking to purchase or improve real estate, purchase or construct buildings, or purchase fixed equipment. Benefits of an SBA 504 loan include:

• Up to $5 million in loan amounts
• Long-term, fixed-rate financing
• Low down payment requirements
• No balloon payments
• No personal guarantees

However, SBA 504 loans cannot be used for working capital or leased equipment. For these needs, borrowers may want to look into other SBA loan options such as the SBA 7(a) loan, SBA Express loan, or SBA Microloan.

The steps to apply for an SBA 504 loan for a landscaping company are as follows:

• Complete an SBA 504 loan application form 1244.
• Complete both a Statement of Personal History (form 912) and a Personal Financial Statement (form 413).
• Provide two business financial statements to support your application and demonstrate your ability to repay the loan:
  • Profit and loss (P&L) statement that is 90-days current with the previous three years of supplementary schedules.
  • A projected financial statement that outlines a detailed one-year income projection with a written explanation of how the projection is achievable.
• Create a list with contact information for applicable affiliates and subsidiaries with important influences and relations.
• Provide your original business certificate or license, or use your corporate seal to stamp your application if your business is a corporation.
• If you have applied for loans before, include records of those applications.
• Gather and submit business and personal federal income tax returns that have been signed in the previous three years.
• Each principal applicant needs to produce a personal resume.
• Provide a written history of challenges the business has faced, why the SBA loan is needed, and how it can help.

If the loan proceeds are being used to purchase an existing business, you will also need:

• P&L statement of the business you are buying and an up-to-date balance sheet.
• Income tax returns of the business you are purchasing dating back two years.
• Terms of sale and the proposed bill.
• A list that includes the schedule of inventory, furniture, fixtures, machinery and equipment, and the asking price.

The repayment terms for an SBA 504 loan for a landscaping company depend on the loan amount and the type of collateral used. Generally, the loan term is 10 or 20 years for real estate and 10 years for equipment. The interest rate is fixed for the life of the loan and is based on the market rate for 5- and 10-year U.S. Treasury issues. The loan is typically amortized over the life of the loan, with a balloon payment due at the end of the term.

For more information, please visit SBA 504 Loans for Landscaping Companies.

In order to apply for an SBA 504 loan for a landscaping company, you will need to provide the following documents:

• Business tax returns for the past three years
• Personal tax returns for the past three years
• Business financial statements for the past three years
• Personal financial statements for the past three years
• Business balance sheet
• Business income statement
• Business cash flow statement
• Business debt schedule
• Business organizational documents
• Business lease agreements
• Business licenses and permits
• Business insurance policies
• Business resumes
• Business collateral
• Business projections

For more information, please visit SBA 504 Loans for Landscaping Companies.