Eligible Use of Funds
- Purchase of Existing Buildings
- New Construction
- Fixed Assets from Business Acquisition
- Building Expansion/Renovation
- Long-Term Equipment
- Professional Fees
- Lender’s Interim Points & Interest
- Debt Refinance (Expansion Projects-debt refinance may not exceed 50% of the new expansion costs)
To help veterans get the financing they need for small business ownership and success, H-GALDC is proud to offer the VetLoan Advantage program.
H-GALDC will issue a cash rebate of up to ½% of 1% of the SBA 504 loan amount or up to $5,000 to help offset the veteran’s loan expenses, including appraisal and environmental reports.
Your SBA 504 Loan in 5 easy steps
Step 1 – Eligibility
Complete an online form to determine eligibility. H-GALDC staff will conduct preliminary review of your project.
Step 2 – Application
Complete application. H-GALDC staff can assist with the application process and work with your bank to obtain a commitment letter. H-GALDC staff will complete the underwriting and submit the application to SBA for approval.
Step 3 – SBA Approval
The Small Business Administration will issue a Loan Authorization upon approval.
Step 4 – Closing/Proceeds
Loan proceeds are disbursed. After all approvals, construction can begin, or applicant can move into existing facility.
Step 5 – Project Completion/Funding
After project completion and funding have been confirmed, applicant will sign all SBA documents and begin monthly payments.
Please fill out our online form and a member of the H-GALDC SBA 504 Loan program team will contact you to conduct a preliminary review of your project. H-GALDC is licensed for projects located within Texas.