Qualifications

Qualifications
The vast majority of businesses are eligible for financial assistance through the SBA 504 Loan, including manufacturers, distributors, and retailers. Existing businesses, start-ups, and company acquisitions are all eligible. More specific eligibility requirements are listed below:

Limited to land, building, and to a certain extent, equipment; equipment must have 20-year economic life. Working capital and inventory loans are not available under the 504 program. However, an SBA 7A Guaranteed Loan can be used to accommodate these needs as long as the SBA's total exposure does not exceed $1,000,000.
Existing debt cannot be refinanced. Investment and residential properties are ineligible.
Must provide or save one job per $35,000 loaned (40% portion)
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SBA Guidelines:
1. Less than $7,000,000 net worth
2. Less than $2,500,000 net profit after tax

The small business concern must occupy at least 60% of a new construction project. However, if the building being financed is already existing, the small business concern must occupy at least 51% of the facility.
Businesses must be for-profit and average less than $2.5 million in profits after taxes and have less than $7 million in tangible net worth.

Businesses within the following counties are eligible to apply for 504 loans with Caprock: Andrews, Bailey, Borden, Cochran, Crane, Crosby, Dawson, Dickens, Ector, Floyd, Gaines, Garza, Glasscock, Hale, Hockley, Howard, King, Lamb, Lubbock, Lynn, Martin, Midland, Motley, Upton, Ward, Winkler, Terry, and Yoakum.