Small Business Administration Loan Programs:

SBA 504 Loan Program:
- Provides long-term, fixed rate financing to small businesses to acquire real estate or machinery or equipment for expansion or modernization.
- Requires a loan secured from a private-sector lender with a senior lein, a loan secured from a Certified Development Company (Iowa Business Growth Company) with a junior lein covering 40% of total project cost with at least 10% equity from the borrower.
- Maximum $1 million

Iowa Business Growth Company (IBGC) is certified by the U.S. Small Business Administration to offer the 504 loan program. They work in conjunction with financial institutions to provide a low down payment on fixed rate, long-term financing.
Contact your Local Financial Institution or the Iowa Business Growth Company (www.iabgc.com) to learn more about the SBA 504 Loan Program.

SBA Basic 7 (a) Loan Guaranty
- Funds may be used by eligible small businesses for sound business purposes including working capital, machinery and equipment, furniture and fixtures, land and building, leasehold improvements, and debt refinancing (under special conditions)
- Loan maturity is 10 years for working capital and up to 25 years for fixed assets.

Contact your Local Financial Institution for more information on the SBA Basic 7 (a) Loan Guarantee.