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SBA 504 Loan Program

20 year loan rate 4.85%
10 year loan rate 4.37%

The Oakland County Business Finance Corporation (BFC), certified by the U.S. Small Business Administration (SBA) since1982.smbfcedclogo.png

All questions welcomed at
Oakland County's BFC:


The SBA 504 Loan Program provides qualified small and medium size businesses with long-term, fixed-rate financing for the acquisition or construction of fixed assets. BFC is a proven and reliable partner with the SBA, lenders, and businesses.  BFC's non-profit mission is to help businesses expand and grow and stimulate economic growth in the community.


Eligible Businesses:  Apply for an SBA 504 Loan if your owner-occupied business is a financially-stable, for-profit business in Michigan with a net worth of less than $15 million and an average annual net profit (after tax) of less than $5 million.


The BFC has helped close to 500 businesses, throughout Michigan, achieve their goals.

Eligible Projects:
  • Land acquisition
  • Land improvements
  • Building acquisition
  • Building construction
  • Building renovation
  • Machinery and equipment
  • Related soft costs

Loan Amount:  Approximately $150,000 to $13 million.  SBA maximums are $5 million for regular loans and $5.5 million for manufacturing and energy loans.


Funding Source:  Typically 40% from the SBA and 50% from a local bank.

  The SBA portion is 10-20 years, and the bank portion is 7-10 years.

Down Payment:
  10% of project costs and 15-20% for special purpose buildings or start-ups.

The assets being acquired, plus a personal guarantee by the business owners.

Approval Process:
  30 days from application.

  Program fees can be financed.




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