Rudder Property Group sat down with Beth Goldberg, Director of the New York District Office of the U.S. Small Business Administration (SBA), to learn more about SBA’s little-known 504 Loan Program, which allows businesses the opportunity to purchase an office condominium or cooperative for as little as 10 percent down—and that’s just the beginning of the benefits small business owners can take advantage of.

Fact: The SBA defines a small business as a company with less than $100 million in sales and less than 500 employees.

Please tell us a little bit about SBA and the status of its small business loan programs here in the New York District.
Of SBA’s 68 District Offices across the country, the New York District is the largest. About 14 million people live in and around the New York SBA District. More than 1.6 million small businesses are located in the New York District, an area comprised of 14 counties of down-state New York.

SBA has two basic loan guarantee programs – 7a and 504. In New York, we guarantee about $1 billion/year between these two programs. Across the country, SBA guarantees about $30 billion in annual loan guarantees.

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