504 Loans

The SBA 504 Loan Program is Prairieland EDC’s premier program. This was created in 1986 with the goal of assisting communities to create jobs and expand the local tax base by stimulating small business investment in facilities and equipment. The 504 program is a small business’s access to capital that provides long-term financing with fixed rates, low down payment, and reduced lender risk. SBA 504 loans can be used for land and building acquisition, new construction, renovation, machinery and equipment, leasehold improvements, and furniture and fixtures.

• Target 36 Counties in Minnesota
• Long Term Fixed Asset Financing – 10 or 20 years
• Fixed Interest Rate for the term
• Subordinate to the private lender
• Jobs – retain and created
• Loan size from $50,000 to $2,000,000
• Up to $4,000,000 on Manufacturing

Sample 504 Loan (PDF files) Page 1 | Page 2