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SBA 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:
Small Business Finance Corporation
1111 Osage Street, Suite 110
Denver, Colorado 80204
(303) 893-8989
(970) 243-1861[Grand Junction office]
(970) 264-0496 (Pagosa Springs and Durango)
cedco.org

Preferred Lending Partners
140 East 19th Street, Suite 202
Denver, Colorado 80203
Contact: Stephanie Gerringer (303) 861-4100
www.preferredlendingpartners.net/

Colorado Lending Source
518 17th Street, Suite 1800
Denver, Colorado 80202
(303) 657-0010
coloradolendingsource.org

Pikes Peak Regional Development Corporation
228 North Cascade Avenue, Suite 208
Colorado Springs, Colorado 80903
(719) 471-2044

Business Lending Source
1104 North Main
Pueblo, Colorado 81003
(719) 545-8680

Mountain West Small Business Finance
2595 East 3300 South
Salt Lake City. UT 84109
(801) 474-3232
(801) 221-7772 www.mwsbf.com