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SBA's 504 loan program for industrial or commercial buildings

The 504 Loan Program allows small business owners to purchase an industrial or commercial building at below-market interest rates with a minimum of ten percent down payment or equity injection. The loan proceeds may be used to purchase or remodel an existing building, construct a new facility or to purchase equipment with a minimum economic useful life of 10 years.

The 504 loan is structured so a bank loans 50% of the total project; then a Certified Development Company (CDC) issues a second loan for 40% of the total project. The borrower contributes 10%. You can ask your bank to fund the 50% or the CDC can find a lender.

CDCs that loan in your area include:
Business Development Corporation
100 E. Wayne St., Suite 335
South Bend IN 46601
(574) 288-5758
Click here for more information

Community Development Corporation
840 City-County Building
Fort Wayne IN 46802
(260) 427-1127
Click here for more information

Indiana Statewide Certified Development Corporation
4181 East 96th Street, Suite 200
Indianapolis IN 46240
(317) 843-9704 Click here for more information

Premier Capital Corporation
151 N. Delaware, Suite 750
Indianapolis, IN 46204
(317) 974-0504
http://www.504partner.com/

Regional Development Corporation
5997 Carlson Ave. Suite B
(219) 764-2700
Portage IN 46368
http://www.rdc504.org