US. Small Business Administration Adds TWO MORE ELIGIBILITY CRITERIA FOR THE $4 MILLION LOAN LIMIT for Energy Efficiency

Looking to upgrade, modernize or relocate to improved facilities to reduce energy consumption or become a more sustainability-minded company?  If so, consider the SBA 504 program!

Effective immediately - the SBA will now allow up to $4 million in one or more 504 loans to a for-profit company that seeks financing to:*
    A)    Reduce their energy consumption by at least 10% by modernizing and/or upgrading facilities.
    B)    Generate renewable energy or renewable fuels such as biodiesel or ethanol production.

This represents the SBA's desire to promote energy conservation and energy efficiency improvements for America's small business community. 

Besides these two $4 million eligibility criteria changes, the SBA has also has added an eligibility criteria for borrowers that are seeking to "increase use of sustainable design, including designs that reduce the use of greenhouse gas emitting fossil fuels, or low-impact design to produce buildings that reduce the use of non-renewable resources and minimize environmental impact."

To learn more, call your local CDC or NWBDA!

*The SBA limit of no more than 40% of project costs REMAINS in place.  Therefore only projects with total costs in excess of $5 million could ever get more than the otherwise top-end limit of $2 million in SBA exposure (except for manufacturers).