小企业管理局504年

目的
小企业管理局504年贷款计划提供次级贷款, fixed rate financing to healthy and expanding small businesses. Long-tem, fixed rate financing (10-20 years) and reasonable rates (near long-term U.S. 国库券利率, make the 504 Program an attractive and effective economic development financing tool.

标准
Type of Financing: The 504 Program is available for fixed asset purchases only: land, 建筑, 使用寿命在10年以上的设备. Working capital, inventory, and venture capital are NOT eligible.

小企业管理局504年融资是“永久性”外卖抵押贷款融资. Interim or construction financing must be utilized to complete the project.

Eligible 业务es: Eligible borrowers are user, for-profit businesses. 不符合资格的企业包括非营利企业, 被动投资和房地产公司, 金融机构, 开发者/房东安排, 合资企业, 私人娱乐设施和不受监管的媒体公司.

Size Requirements: The net worth of an eligible business may not exceed 8.000万年. Its net profit after taxes must not have exceeded an average of $3.在过去的两年里，这一数字达到了6亿美元. 一家公司是否应该达不到这些标准, the company will still be considered a small business if it meets size requirements, 根据员工的数量, which vary among the different industries depending on NAICS codes.

项目如何运作
Structure: Typically the 504 loan has a 50-40-10 structure where 50 percent of the project is financed by a regulated lender that receives a first mortgage position on all project collateral. Forty percent is provided by the South Dakota Development Corporation, which sells debentures 由SBA担保 and receives a subordinated collateral position. The remaining 10 percent is provided by the borrower in a cash equity injection. This is the minimum equity contribution and depending on the project, 以及可用的个人资源, SDDC可能需要更大的贡献.
*Start-up businesses or single-purpose facilities require an additional equity contribution of 5 percent. If the business meets both of these criteria, a 20 percent equity contribution is required.

Regulated Lender: At least 50 percent of the project cost must be provided from "non-federal" sources, 比如商业银行, S&Ls, saving banks, insurance companies and equity contributions. The lender will receive a first position on the assets acquired with the loan proceeds. 这笔贷款的期限必须至少为7至10年, 取决于小企业管理局贷款的分期偿还, 而且要有一个“合法合理”的利率,固定的或可变的，并且可以重新协商. 重新谈判的方式必须事先说明.

South Dakota Development Corporation: Eligible businesses may borrow up to $5,000,000美元，最少50美元,通过可持续发展基金获得的贷款. Loan amounts available for small manufacturing are $5,500,000. The SDDC portion of the project may not exceed 40 percent of the eligible project costs, SDDC部分也不能超过首次按揭金额. The goal of the program is to create at least one job for each $65,1万美元的债券或1份工作,小型制造业，000美元. Personal/corporate guarantees are required of all individuals or entities having 10 percent or more ownership in the business and may be required for managers who occupy key positions that are vital to repayment ability, 不管他们的所有权百分比.

SDDC出售债券, 由SBA担保, with a 10 or 20 year maturity based upon the weighted average of the useful life of the assets purchased with the loan proceeds. The rate of interest is fixed for the term of the loan and determined at the time of sale of the debenture, 这是基于当前的平均市场收益率. There are various one-time fees associated with the 504 loans. 一次性处理费合计约3.25%，并加到贷款金额中. On-going servicing fees are added to the interest rate and include fees to the Central Servicing Agent, SDDC和SBA. 另外，a为0.5 percent fee is payable by the first mortgage lender to the SBA.

Equity Injection: The borrower generally provides at least 10 percent of the project cost in the form of a cash equity injection.