CityWide’s SBA 504 loan program provides fixed rate financing for fixed assets to businesses throughout the Dayton Region.

Eligible Businesses

• Business must be for-profit
• Net worth of business must not typically exceed $15,000,000
• Previous two-year average after tax profits must not typically exceed $5,000,000 or size standards based on industry classification

Eligible Loan Uses

• Real estate acquisition
• New construction
• Renovation of existing buildings
• Machinery and equipment acquisition
• Project related soft costs
• Refinance of commercial real estate loans

The Benefits

• Long-term financing, up to 25 years
• 2^nd Mortgage subordinate debt
• Equity injection as low as 10%
• Fixed, low interest rate
• Fully assumable
• Guarantee fees lower than SBA 7(a) program on average

Typical Gap Financing Loan Structure

• 50% bank or other private lender
• 40% CityWide SBA 504 Loan
• 10% owner’s equity injection

Maximum Loan Amount

• Up to $5,000,000; $5,500,000 if manufacturer
• $75,000 of SBA 504 loan dollars per job created or retained
• $125,000 of SBA 504 loan dollars per job created or retained by small manufacturers

Rate

• Rates are fixed for the full term of the loan

Fees

• $500 application fee
• SBA 504 fees, approximately 2.25% of loan amount plus underwriting fee, are financed over the term of the loan
• Deposit due upon acceptance of loan commitment to cover out-of-pocket closing costs – i.e. legal, title, recording, etc.