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2025-04-29T17:05:31Z

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==Procedure==
'''Apply In-Person ''' 
#To Apply 504 Loan (SBA), the applicant has to approach the U.S Small Business Administration [https://www.sba.gov/local-assistance/find link]
#:'''Note:''' Enter the Zip Code and click the “Search” button to check the regional address.
#504 loans are available exclusively through Certified Development Companies (CDCs). First, the applicant has to ensure that they are dealing with a qualified lender.
#Find the regional Certified Development Companies address from the following [https://www.sba.gov/local-assistance/find?type=Certified%20development%20company&pageNumber=1 link]
#:'''Note:''' Enter the Zip Code and click the “Search” button to check the regional address.
#Then the applicant has to prepare and assemble the 504-loan authorization package, using the zip file provided in the [https://www.sba.gov/document/support-504-authorization-file-library Authorization File Library]
#The applicant also has to fill the application form for 504 loans, it can be downloaded from the following [https://www.sba.gov/document/sba-form-1244-application-section-504-loans application form]
#The applicant has to enter all the necessary details in the application form.
#All the necessary documents that are mentioned in the “Required Documents” section of this page have to be provided. The photocopies of the required documents have to be attached.
#Once completed, the applicant should submit the Form and the documents to the U.S Small Business Administration’s certified development company office.
#The Fee for this procedure has to be paid as per the authority’s request.
#Once all the verification is done by the authority, the applicant receives a notification through a mail.
#After approval, the applicant can collect the documents by visiting the office within a month and the loan will be sanctioned. 
 
::'''Note:'''The applicant can check the SBA operating status details in the following [https://www.sba.gov/document/support-sba-operating-status link] 
 

==Required Documents==
*Completed form [https://www.sba.gov/document/sba-form-1244-application-section-504-loans link] / authorization package [https://www.sba.gov/document/support-504-authorization-file-library link]
*For more details about required documents [https://www.sba.gov/sites/default/files/2021-08/Info%20Notice%205000-809115%20-%20Form%201244%20with%20Debt%20Refi%20Economic%20Aid%20Act%20Updates-508.pdf link] 
 
==Office Locations & Contacts==
'''U.S Small Business Administration''' 
Phone - 800-827-5722 
Help desk mail - answerdesk@sba.gov 
Timing - Monday-Friday 9:00 a.m. to 6:00 p.m. ET. 
Contact details [https://www.sba.gov/about-sba/organization/contact-sba link] 
'''U.S Small Business Administration in Iowa''' [https://www.sba.gov/local-assistance/find link] 
 
'''Note:''' Enter the Zip Code and click the “Search” button to check the regional address. 
 

==Eligibility==
To be eligible for a 504 loan, 
*The applicant must have a substantial net worth of less than $15 million.
*The applicant’s company runs as a for-profit company in the United States or its belongings.
*The applicant must have an average net profit of less than $5 million after federal income taxes for the two years previous to their application.
:For more details – [https://www.sba.gov/loans-grants/see-what-sba-offers/sba-loan-programs/real-estate-equipment-loans-cdc-504/cdc-504-loan-program-eligibility%20 link] 
 
==Fees==
*The fee for this procedure has to be paid as per the authority’s request.
*Check the payment options [https://www.sba.gov/funding-programs/loans/make-payment-sba link] 
 
==Validity==
Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever 
 
==Documents to Use==
*504 loan Application form [https://www.sba.gov/document/sba-form-1244-application-section-504-loans link]
*Authorization package [https://www.sba.gov/document/support-504-authorization-file-library link] 
 
==Sample Documents==
Please attach sample completed documents that would help other people. 
 
==Processing Time==
The processing time for this procedure is up to one month. 
 
==Related Videos==
Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.gIn the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'. 
 
==Instructions==
*Applicants must complete the application form before submitting it. Incomplete applications will not be accepted.
*Applicants must provide genuine information while applying for this procedure. 
 
==Required Information==
*Name
*Nationality
*Date of Birth
*Gender
*Residential Address
*Residential No
*Mobile No
*Email Address 
 
==Need for the Document==
The 504 loans scheme provides extended, fixed rate funding of up to $5 million for major fixed anchored assets that elevates the growth of business and job creation. These loans are obtained through Certified Development Companies (CDCs) and SBA's community-based partners who manage non-profits and elevate economic development inside their communities. 
 
==Information which might help==
504 loans can be used for 
*Buying of New facilities and Long-term machinery and equipment.
*Construction of Existing buildings or land.
*Modernization of Land, streets, utilities, parking lots and landscaping and other existing facilities 
 
504 loans cannot be used for:
*Payback or refinancing debt.
*Purchase of business assets.
*Investing in real estate. 
 
==Other uses of the Document/Certificate==
Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity. 
 
==External Links==
[https://www.sba.gov/funding-programs/loans/504-loans Link] 
 
==Others==
More information which might help people. 

[[Category:Iowa]]

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