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An SBA 504 construction loan is available for businesses that are owner-occupied and meet the eligibility criteria for property and business types.
Some industries, such as real estate development and gambling entities, are not eligible. Eligible businesses range from athletic facilities to warehouses.
The occupancy requirement for new construction is at least 60%, while for existing buildings, it is at least 51%. The SBA also recommends occupying 80% within the first 10 years. However, it is unclear how this is tracked.
If you'd like to meet with Beau to talk financing, book a call here
( http://bookwithbeau.com/ )
5
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An SBA 504 construction loan is available for businesses that are owner-occupied and meet the eligibility criteria for property and business types.
Some industries, such as real estate development and gambling entities, are not eligible. Eligible businesses range from athletic facilities to warehouses.
The occupancy requirement for new construction is at least 60%, while for existing buildings, it is at least 51%. The SBA also recommends occupying 80% within the first 10 years. However, it is unclear how this is tracked.
If you'd like to meet with Beau to talk financing, book a call here
( http://bookwithbeau.com/ )
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