How Does the SBA 504 Loan Compare to a 7(a) Loan and Other Loans Available?
Making an informed decision for your business funding needs is essential, but it can be difficult given the number of different financial tools available. One of the most popular small business loans on the market is the SBA 7(a) loan . How does it compare to the 504 loan program ?
Can I Use an SBA 504 Loan to Invest in Real Estate?
In contrast to other business loans, including other SBA loans , the SBA 504 loan program is specifically geared to help small businesses purchase real estate of all types. This could be an existing building, or it could be empty land and funds for construction of the property. This focus natural
Can I Use an SBA 504 Loan for an Online Business?
The Internet has revolutionized almost every industry. There are very few segments of the economy that have not been affected at least somewhat by the advent of the Internet, and many segments have seen the rise of “online only” businesses. Of course, this is something of a misnomer. The businesses
Can You Use an SBA 504 Loan to Finance Business Vehicle Purchases?
While most business loans can be used for anything your company might need, that’s not the case with the SBA 504 loan . It is strictly to be used for real estate-related needs, or for the purchase of heavy equipment. That eliminates the purchase of vehicles, even if you intend to purchase fleet veh
Can You Take Out Multiple SBA 504 Loans?
Can you take out multiple SBA 504 loans ? Yes, you can. In fact, you can take out multiple SBA loans over time in order to build a successful business. However, it is not as simple as just making a second application. If you took out your first 504 loan and eventually worked through all the ava
Can You Combine an SBA 504 Loan and an SBA 7(a) Loan?
There are compelling reasons for a business owner to consider taking out an SBA 504 loan. They have lower interest rates than other business loans and are somewhat less stringent in terms of borrower requirements, too. In comparison, the SBA 7(a) loan is the most popular business loan offered by t