SBA Grow (504) Program


The SBA Grow (504) loan program is the U.S. Small Business Administration’s long-term financing tool for economic development. The Grow Program provides growing businesses with long-term, fixed-rate financing for fixed asset projects. The program allows businesses to contribute as little as 10% equity into a project.

Eligible Uses

  • Refinance
  • Purchase land and improvements including existing building
  • One direct deposit or one ACH debit
  • Grading, street improvements, utilities, parking lots, and landscaping
  • Construction of new facilities, or modernizing, renovating or converting existing utilities
  • Purchase of long-term machinery and equipment

Typical Financial Structure

  • 50% Hanmi Bank 1st trust deed
  • 40% CDC 2nd trust deed
  • 10% minimum down payment*

* Minimum 15% down payment required for special purpose property

  Hanmi Bank 1st Trust Deed Loan SBA Grow (504) 2nd Trust Deed Loan
Interest Rate Flexible Fixed for life (based on SBA debenture rate)
Terms Flexible 20 years straight
Fee TBD Approximately 2.75% to 3% of 2nd TD loan amount
Prepayment Penalty TBD Declining first 10 years
Others   Maximum Loan Amount: $5,000,000

Other Conditions

50% Hanmi Bank 1st trust deed

SBA Department

3660 Wilshire Blvd, Suite 917
Los Angeles, CA 90010
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