Veteran and Women Owned Businesses Now Included in National Objectives

9/29/2008

SBA 504


The maximum 504 loan is $1,500,000 (up to $4.0 million in some cases). Small businesses that are assisted are required to create and/or retain jobs, which is the overall purpose of the loan program. Job creation requirements can be waived for National Policy Objective projects.

The public policy goals are as follows:

Business district revitalization
Expansion of exports
Expansion of minority business development
Rural development
Enhanced economic competition
Restructuring because of federally mandated standards or policies
Changes necessitated by federal budget cutbacks
Expansion of small business concerns owned and controlled by veterans
Expansion of small business concerns owned and controlled by women