Top What CANNOT be financed with a 504 loan?
• Organization and incorporation costs • Counseling or management service fees • Finders fees, broker fees, commitment fees and application fees • Origination fees on the permanent portion of private sector loans (origination fees on interim or construction financing can be included) • Working capital needs / requirements, such as the purchase of inventory • Furniture, fixtures and equipment with a useful life less of than 10 years (although these may be allowed if it can be shown that they are essential to the project and a small percentage of the total project cost) • Automobiles, buses, SUV’s, motorbikes, mopeds, bicycles, trucks and airplanes • Franchise fees • Moving costs • Advertising • Construction equipment; however, heavy duty equipment integral to a business and meeting the IRS definition of capital equipment is eligible • Taxes – SBA loan proceeds can never be used to pay past due federal and/or state taxesTop Is there a minimum or maximum project siz
