If you’re considering applying for an SBA 504 Loan to fund your small business’s fixed asset purchases (such as real estate, buildings equipment or machinery), you’ve made a wise business decision that will likely not only benefit your business, but also help drive economic development in your community. Congratulations!
At SEDCO (the Sunshine State Economic Development Corporation), we specialize in helping small businesses get the funding they need by partnering with the US Small Business Administration (SBA) to offer SBA 504 loans. Our experienced team helps companies like yours all over the state of Florida day-in and day-out by providing expert advice and guidance and working closely with you to make the application process as quick and easy as possible.
To prepare to apply for a 504 loan, potential borrowers will need to gather required materials to be submitted with the application. Below is a checklist of items you’ll need:
Loan Application Forms to be completed:
Note: Each business owner of 20% or more must complete and provide required forms and documents
504 Loan Application
Disclosure Statement
Business Debt Schedule
Previous Government Financing Form
Affiliate & Subsidiaries Form
Personal Financial Statement
SBA Form 1244
Section XIX
Applicant Notifications - boxes checked & initialed
Borrower Agreements & Certifications
Borrower Resume
Tax Transcript Consent Form
Request for Transcript of Tax Return – Form 4506-T
Personal Documents:
Signed Personal Federal Tax Return - most recent year
Copy of driver’s license
Other Required Documents:
Executed real estate purchase agreement, including amendments
Cost documents signed by the contractor
There are also additional required documents depending on how long your company has been in business, if you have affiliates, are a franchise, are not a US citizen and for other circumstances. See the complete checklist here.
If this list looks intimidating, don’t panic! Your friendly SEDCO 504 Loan Representative will guide you through the application process and can answer all of your questions. See what other small business owners are saying about SEDCO.
To learn more about applying for a 504 loan, visit our website, contact us, or check out the application form.
Sunshine State Economic Development Corporation (SEDCO) is a not-for-profit certified development corporation (CDC) licensed by the U.S. Small Business Administration to offer the SBA 504 Loan Program throughout the state of Florida. SEDCO can provide your expanding small business with alternative financial resources, sound financial advice, and business acumen. Helping small business succeed is our business. For more information, visit our website or contact us.