Many business owners are aware that the SBA has certain “public policy goals” for it’s programs and most of the time a business meets this objective by creating or retaining jobs. Well, there is no doubt that we would all love to be able to create or retain as many jobs as possible right now, because usually more jobs means more productivity, more business and hopefully more profit…and we all want to see the ranks of the unemployed thinned out dramatically.
What many people do not know is that there is a new way to meet the SBA’s public policy goal…and it is simpler than you might think. You just need to go a little bit green.
Yup, it’s true. If you can cut your energy costs by a mere 10% by making your building more energy efficient or by producing enough renewable energy to reduce your costs by 10% than in most cases you will satisfy the SBA’s public policy goal. You can also meet the goal by being a green energy producer, so if you have a business that produces green energy (and green jobs) than you are good to go.
Of course, if you are going to go green you should probably shoot for more than 10% savings, but that is all it takes to meet the goal.
Keep in mind that the max project cost for the 504 loan is approx. $10 million.