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204 Loan - Helping Businesses Grow

For small businesses struggling to finance their operations, the 204 loan program can be a lifesaver. This government-backed loan provides up to $5.5 million in funding to businesses looking to purchase commercial real estate, upgrade their facilities, or even construct a new building.

What is a 204 Loan?

A 204 loan is a type of Small Business Administration (SBA) loan designed specifically for businesses looking to grow or expand their operations. These loans provide long-term, low-interest financing to eligible businesses, with repayment terms of up to 25 years.

The main goal of the 204 loan program is to encourage economic development and job creation in underserved or rural areas. To be eligible for a 204 loan, businesses must operate in areas designated as rural by the SBA, have fewer than 500 employees, and meet various other eligibility requirements.

How Can a 204 Loan Help Your Business?

Whether you're looking to purchase commercial real estate, upgrade your existing facilities, or construct a new building entirely, a 204 loan can provide the funding you need to make it happen. Some of the key benefits of a 204 loan include:

How to Apply for a 204 Loan

Like all SBA loans, the process of applying for a 204 loan can be lengthy and complex. However, with the right preparation and guidance, businesses can increase their chances of success. Some of the key steps to applying for a 204 loan include:

Conclusion

For small businesses looking to grow or expand their operations, a 204 loan can be an excellent source of funding. With long repayment terms, low interest rates, and flexible use of funds, these loans provide businesses with the resources they need to succeed. However, applying for and obtaining a 204 loan can be a complex and challenging process. Working with experienced SBA lenders can help businesses navigate the process and increase their chances of success.

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