ATM FINDER BRANCHES CONTACT HELP CENTER ONLINE BANKING Personal Banking Business Banking Crypto About Vast industry-news Evolving The Banking Experience In The Digital Age | Vast... industry-news COVID-19 Relief for Restaurants: How to Apply for a... industry-news Large to Small Business Relief in Oklahoma : Up to $25,000... SBA 504 Loans for Commerical Real Estate & Equipment The 504 Loan program offers small business financing for commercial real estate and equipment. This type of loan offers both immediate and long-term benefits, so you can focus on growing your business. KEY BENEFITS Up to 90% financing Longer loan amortization Fixed-rate interest rates and Savings that result in lower monthly payments and improved cash flow for small businesses. LOAN STRUCTURE Get up to 90% Financing with an SBA 504 Loan SBA 504 Loans are typically structured with SBA providing 40% of the total project costs, a participating lender covering up to 50% of the total project costs, and the borrower contributing 10% of the project costs. Under certain circumstances, a borrower may be required to contribute up to 20% of the total project costs. The use of proceeds from 504 loans must be used for fixed assets (and certain soft costs), including purchase, construction, or refinance of owner-occupied commercial real estate or equipment. 504 Loan Eligibility To be eligible for a 504 Loan, your business must be operated for profit and fall within the size standards set by the SBA. Under the 504 Program, a business qualifies if it has a tangible net worth not more than $15 million, and an average net income of $5 million or less after federal income taxes for the preceding two years prior to application. Loans cannot be made to businesses engaged in nonprofit, passive or speculative activities. For additional information on eligibility criteria and loan application requirements, small business and lenders are encouraged to contact a Certified Development Company in their area. Collateral Generally, the project assets being financed are used as collateral. Personal guarantees from owners of 20% or more may also be required. Interest Rates and Fees Interest rates on 504 Loans are correlated with the current market rate for 5-year and 10-year U.S. Treasury issues. Loan maturities of 10 and 20 years are available. Fees may be financed with the loan. For more information about SBA 504 loans, visit www.sba.gov Copyright© 2021 Vast Bank, N.A. All rights reserved. NOTICE: Vast Bank, N.A. is not responsible for and has no control over the content of the web sites that have links here. Please contact us with any concerns or comments. Disclosures