SBA 504
An SBA program built for fixed assets such as owner-occupied real estate and long-life equipment, not primarily for goodwill.
Last updated September 5, 2026
The SBA 504 program typically pairs a bank loan, a CDC (Certified Development Company) debenture, and a borrower down payment to finance real estate or heavy equipment. It is less often the sole tool for buying a leased Main Street operation whose value is mostly goodwill. When a deal includes the building, buyers sometimes combine 504 for the property with 7(a) or seller paper for the business. As with 7(a), a participating lender underwrites the file.