What is a 504 loan and how do I apply?

The 504 Loan Program (PDF) provides loans of up to $5.5 million to approved small businesses with long-term, fixed-rate financing used to acquire fixed assets for expansion or modernization. It is a good option if you need to purchase real estate, buildings, and machinery. You apply through a Certified Development Company, which is a nonprofit corporation that promotes economic development. The Small Business Administration (SBA) has a free referral service tool called Lender Match to help find a lender near you.

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1. Which Small Business Administration (SBA) loans are eligible for debt relief under this program?
2. How does debt relief under this program work with a Paycheck Protection Program (PPP) loan?
3. How do I know if I’m eligible for a 7(a), 504, or microloan?
4. What is a 7(a) loan and how do I apply?
5. What is a 504 loan and how do I apply?
6. What is a microloan and how do I apply?
7. I am unfamiliar with SBA loans, can anyone help me apply?