To be eligible for an SBA 504 Loan "Pre-Qualification," the following elements need to be considered:

ELIGIBLE BUSINESS

• Be an operating business or an "eligible concern"
• Be organized for profit
  
• Be located in the state of North Dakota
  
• Be "small" under the program size standards
  • Tangible net worth not greater than $7.5 million and net profit not greater than $2.5 million.
• Demonstrate the need for desired financing (credit not available elsewhere)

ELIGIBLE USE OF PROCEEDS

• The purchase of an existing building
  
• The construction of a new building
  
• Renovation or remodeling of an existing building
  
• Equipment purchases
  
• Land acquisition and land improvements

If you feel that your business meets these basic eligibility requirements and you are interested in receiving more information about the SBA 504 Loan Program, please contact us or fill out the following form to get your "pre-qualification" process started. The "pre-qualification" process will take less than two business days. Keep in mind that although your business may become pre-qualified, this does not guarantee that your business will be approved for an SBA 504 Loan.