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Here are the general guidelines for eligibility:
- Net Income must be under $2.0 million.
- Tangible net worth must be under $6.0 million.
How much can I borrow?
CIT Small Business Lending Corporation offers SBA 504
loans up to $6.0 million in a total financing package with the SBA.
What are the terms of repayment?
All SBA 504 loans are fully amortized. Terms are:
- Up to 20 years for real estate purchase or
take-out of a construction loan.
There are pre-payment penalties on a 504 loan. Please call one
of our field experts to get further information on the SBA 504 loan
program.
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