There is now no limit to the number of SBA 504 Green Energy Public Policy Projects or the aggregate dollar amount outstanding.
The SBA 504 Green Energy Loan Program allows businesses to go green to benefit the environment while also exceeding typical SBA lending limits.
- The SBA portion has been increased to $5.5 million per project, compared to the $5 million maximum for standard SBA 504 Loans
- There is no limit on the number of Green Energy Projects
- There is no limit on the aggregate dollar amount outstanding
Benefits of SBA 504 Green Energy Financing
- A borrower can still qualify for an additional $5.5M SBA 504 Loan if they have used their $5M allocation in SBA 7a or 504 loans
- There is now no limit to the number of additional $5.5M debentures a borrower can have if the 504 Green Energy Program is used
- There is no limit to the total project cost
- 90% financing for building or land acquisition, renovations and ground-up construction
- Lower business’s energy and operating costs
- Roll renewable equipment costs into loan
What Qualifies for SBA 504 Green Energy Loans
- Reduce energy consumption by 10% or more
- Produce on-site renewable energy that represents 15% of your energy use
- Energy-efficient building improvements such as: improved roofing,
energy-efficient windows, doors, and building insulation - Installation of solar panels, solar thermal heating or cogeneration systems
- Installation of high-efficiency HVAC units or improvement of HVAC system with timers or sensors
- Replacement of lighting with high-efficiency fixtures
About the SBA 504 Loan Program
The SBA 504 Loan Program is an economic development tool that provides small businesses with long-term, fixed rate loans to help them acquire major fixed assets for expansion or modernization of their businesses. These loans are most frequently used to acquire land, buildings, machinery or equipment. A 504 loan can be a 10-, 20- or 25-year term, which is beneficial for small business owners. Pairing the fixed rate aspect with these term lengths gives small business owners stability, allowing them to budget and manage cash flow without concerns about rising rates or balloon payments.
About Growth Corp
Small Business Growth Corporation (Growth Corp) is a nonprofit, mission-based lender dedicated exclusively to connecting small businesses with quality expansion capital through administration of the SBA 504 Loan Program. With a commitment to economic development, job creation and the small business sector, Growth Corp is ranked a Top 10 National CDC for SBA 504 loan volume and is Illinois’ largest 504 loan provider. In fact, Growth Corp’s substantial portfolio ($900+ million) is particularly impressive because every dollar was utilized by Midwest entrepreneurs to open and expand their small businesses. Contact any member of our lending team today!