504 Program Specific Eligibility Factors
Job Creation or Retention
1. At least 1 job for every $65,000 of SBA funds lent
2. Job Retention may only be used if it can be reasonably shown that the jobs would be lost to the community where the project is located.
Or meet one of the 16 Community or Public Policy Goals stated below:
Community Development goals:
Public Policy goals:
1. At least 1 job for every $65,000 of SBA funds lent
2. Job Retention may only be used if it can be reasonably shown that the jobs would be lost to the community where the project is located.
Or meet one of the 16 Community or Public Policy Goals stated below:
Community Development goals:
- Improving, diversifying or stabilizing the economy of the locality;
- Stimulating other business development;
- Bringing new income into the community;
- Assisting manufacturing firms (North American Industry Classification System (NAICS), Sectors 31 “ 33); or
- Assisting businesses in Labor Surplus Areas as defined by the Department of Labor.
Public Policy goals:
- Revitalizing a business district of a community with a written revitalization or redevelopment plan;
- Expansion of exports;
- Expansion of small businesses owned 51% by women
- Expansion of small businesses owned 51% by veterans
- Expansion of small businesses owned 51% by minorities
- Aiding small businesses located in rural counties
- Increasing productivity and competitiveness (retooling, robotics, modernization, competition with imports);
- Modernizing or upgrading facilities to meet health, safety, and environmental requirements;
- Assisting businesses in or moving to areas affected by Federal budget reductions, including base closings, either because of the loss of Federal contracts or the reduction in revenues in the area due to a decreased Federal presence; or
- Reduction of rates of unemployment in labor surplus areas, as such areas are determined by the Secretary of Labor.
- Reduction of existing energy consumption by at least 10%