SBA 504 Loan Programs for Small Business

Is it the best-kept secret for today’s small business?

21st Century Bank SBA 504 Loan image

Despite the adversity of the past year, Minnesota’s small business community continues steadfast growth and 21st Century Bank (“21st”) is proud to be #1 Third Party Lender Originator – of SBA 504 loans in the State of Minnesota for the last three years 2018 -2020.

“The key thing to understand about the SBA 504 product is that any bank can be a partner in originating a loan under the program; however, given that it is a specialty product, not all banks are comfortable working with the product. This usually either leads to the product not being offered to a prospective customer or the road to the closing of the loan involves stress and time delays.

21st takes great pride in the results that it consistently has in the SBA 504 origination space. These results are directly related to SBA 504 product knowledge; experience working with the product; and the strength of the partnerships it possesses,” said Jonathan Dolphin, President, 21st Century Bank.

SBA 504 Loans - 21st Century BankThe SBA 504 Loan Program is a great program for any business to finance the purchase of real estate that they are going to Owner Occupy. The general benefits over Conventional bank financing are 10 % down payment vs. 20-25 %; 25 year amortizations vs. 20 year amortizations; and 40 % of the project that is financed by the SBA is fixed for 25 years vs. 5 years fixed associated with typical conventional bank financing. This program typically sells itself–the major thing to know about it is that any commercial bank can utilize the program, but only the banks that utilize it often are proficient at getting the loan closed. 21st is proud of its success with this program and would be happy to show you how you can benefit if you are a business that is renting presently or one that is looking to expand its current real estate or real estate holdings.

We invite you to contact one of our commercial lenders today to discuss your business & determine if leveraging the benefits of the SBA 504 program will help you reach your goals.

*Source: Eagle Compliance, LLC 

More information on Small Business Administration.

Send Us An Inquiry

21st century bank logo



For a business account, please complete the following:

For account and/or loan applications, please contact Customer Service or visit a branch location.

Disclaimer: Do not share confidential, privileged, or sensitive information via unencrypted email. As with any information submitted over the internet, there is a risk that the information could be intercepted, viewed, or retrieved by a third party. For your protection, please do not include personal information, such as Social Security numbers or account numbers, in email messages.

21st Century Logo

You are about to leave 21st Century Bank to visit an external website. 

If you trust the source, you can proceed to this website, or click “Go Back” to return to where you were before. 

Would you like to continue?