Eligibility Guidelines for Commercial Real Estate Loan

Eligibility Criteria For a 504 Commercial Real Estate Loan.

  • Owner Occupied – owner must occupy at least 51% for an existing building or 60% for new building construction
  • Located in California, Nevada or Arizona
  • Loan used to buy, construct, improve or refinance a commercial building OR the purchase and installation of heavy machinery or equipment
  • Must be owner-operated business
  • Must be for profit business
  • Equipment must have 10-year economic life
  • Have net worth no greater than $15 million and net profit after taxes below $5 million in the last two operating years
  • Applicants must be of good character and therefore cannot currently be on parole or probation