SBA 504 Loans Chicago, IL

SBA 504 Loan Banks are financial institutions that administer certain small business loans. The federal SBA 504 Loan program provides loans to small businesses in order to cover fixed assets, such as real estate, buildings, renovations, or machinery. SBA 504 Loan Banks provide up to 50% of the project's financing, while up to 40% of the financing comes through the U.S. Small Business Administration (SBA). The program is managed through the SBA, a federal government agency that was formed in 1953 to support the economic growth of small businesses.