Lake County SBA 504

This loan provides long-term, fixed-asset financing through certified development companies. The SBA can guarantee debentures covering as much as 40% of a 504 project, up to $1 million. 

The program is designed to enable small businesses to create and retain jobs. One job must be created or retained for every $35,000 of debenture proceeds provided by the SBA.

Eligible Projects
Fixed-asset projects include:
  • Purchasing or improving land
  • Constructing new facilities
  • Renovating existing facilities
  • Purchasing machinery and equipment
Funds cannot be used for:
  • Working capital or inventory
  • Consolidating
  • Repaying debt