SBA Loan Program

The Small Business Administration (SBA) is a US Government agency that provides support to entrepreneurs and small businesses. The Oakland County Business Finance Corporation is here to help you apply for an SBA Loan, whether it be for your small business or your upcoming eligible project.sba


The SBA 504 Loan Program provides qualified small and medium size businesses with long-term, fixed-rate financing for the acquisition or construction of fixed assets. BFC is a proven and reliable partner with the SBA, lenders, and businesses.  BFC’s non-profit mission is to help businesses expand and grow and stimulate economic growth in the community.

Eligible Businesses:
Apply for an SBA 504 Loan if your owner-occupied business is a financially-stable, for-profit business in Michigan with a net worth of less than $15 million and an average annual net profit (after tax) of less than $5 million.
The BFC has helped close to 500 businesses, throughout Michigan, achieve their goals.
Eligible Projects:
  • Land acquisition
  • Land improvements
  • Building acquisition
  • Building construction
  • Building renovation
  • Machinery and equipment
  • Related soft costs

Loan Amount:  Approximately $150,000 to $13 million.  SBA maximums are $5 million for regular loans and $5.5 million for manufacturing and energy loans.

Funding Source:  Typically 40% from the SBA and 50% from a local bank.

  The SBA portion is 10-20 years, and the bank portion is 7-10 years.

Down Payment:
  10% of project costs and 15-20% for special purpose buildings or start-ups.

The assets being acquired, plus a personal guarantee by the business owners.

Approval Process:
  30 days from application.

  Program fees can be financed.
All questions welcomed at
Oakland County’s BFC:

248-858-0765 For more information, including sample projects and loans, please visit The EDCA Website.The Oakland County Business Finance Corporation (BFC), certified by the U.S. Small Business Administration (SBA) since1982.

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