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SBA 504 Green Loan: Everything You Need To Know (2024)

Small Business Loans
June 5, 2024

In a significant new development, the Biden-Harris Administration has announced the removal of the $16.5M aggregate cap on the SBA 504 Loan Program for clean energy projects. This change, declared by SBA Administrator Isabel Casillas Guzman, aims to provide small businesses with the capital needed to innovate and adopt sustainable practices, aligning with President Biden’s goal of net-zero emissions by 2050.

With the elimination of the lending cap, small enterprises are now able to secure multiple 504 loans of up to $5.5 million each with no aggregate limit. This is part of broader efforts to democratize investment in clean energy, positioning small businesses as key players in this transition.

Key Benefits

Eligibility

Borrowers need to meet one goal to qualify.

The SBA’s focus on clean energy funding highlights its commitment to advancing a clean energy economy. By increasing financial support, the SBA empowers small businesses to implement energy-saving measures and renewable energy projects, fostering innovation and promoting economic growth and sustainability.

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