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How Does an SBA 504 Work
The Small Business Administration created the SBA 504 loan program for entrepreneurs just like you. Getting an SBA 504 loan is a pretty simple process, but it may seem a bit overwhelming at the start. Basically, you will get two loans: A first lien and a second lien. Let me explain.
The first lien is the senior debt which is the bank part and the second lien (or loan) is the guaranteed piece by the SBA. If you're buying a million dollar property, you're financing an existing business expansion, where you can, under the SBA 504 loan program, finance ninety percent of the total cost.
You would…
The skinny
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