How does an SBA 504 loan work for a small industrial owner-user?
10% borrower equity, 50% bank first mortgage (10–25 yr amort), 40% SBA CDC second mortgage at below-market fixed rate, 20 or 25-year fully amortizing, no balloon. For a $1.5M building: $150K down, $750K bank loan, $600K SBA — monthly payments ~$9,500–$10,000, comparable to market rent. FBDC (418 loans/$440.8M FY2025) and FFCFC (349 loans/$426.9M) are the two highest-volume Florida CDCs.