The 504 Structure
Three parties, one deal — designed to keep borrower costs low on major capital purchases
Third-Party Lender
A bank or other lender provides the senior loan, typically covering up to 50% of the project cost. This portion is not SBA-guaranteed and carries the lender's own terms.
CDC / SBA Portion
A Certified Development Company provides the SBA-backed subordinate loan — up to 40% of the project cost. This is the fixed-rate, long-term piece (10 or 20 years) that makes 504 deals attractive.
Borrower Equity
The borrower contributes at least 10% equity. For startups or special-use properties, the requirement may increase to 15-20%. Lower than conventional lending, freeing up working capital.
Full 504 Field Inventory
Every field in the normalized SBA 504/CDC loan tape, grouped by category. Each loan record includes 50+ fields covering borrower, three-party deal structure, lender, performance, and lineage.
Borrower
| Field | Description | Example |
|---|---|---|
| BorrName | Legal business name of the borrower | Pacific Logistics Holdings Inc. |
| BorrStreet | Borrower street address | 5500 Industrial Blvd |
| BorrCity | Borrower city | Los Angeles |
| BorrState | Borrower state (2-letter) | CA |
| BorrZip | Borrower postal code | 90021 |
| BusinessType | Legal entity type | Corporation |
| BusinessAge | Age of business at approval | Existing 10+ years |
| JobsSupported | Jobs retained or created (borrower-reported) | 25 |
Industry & Project Location
| Field | Description | Example |
|---|---|---|
| NaicsCode | 6-digit NAICS industry code | 531120 |
| NaicsDescription | NAICS code description | Lessors of Nonresidential Buildings |
| NaicsSector | 2-digit NAICS sector (derived) | Real Estate & Rental and Leasing |
| FranchiseCode | SBA franchise registry code | — |
| FranchiseName | Franchise brand name | — |
| ProjectCounty | County where the project is located | Los Angeles |
| ProjectState | State where the project is located | CA |
| SbaDistrictOffice | SBA field office that processed the loan | Los Angeles District |
| CongressionalDistrict | Congressional district of the project location | CA-34 |
Three-Party Deal Structure
| Field | Description | Example |
|---|---|---|
| GrossApproval | Total project loan amount | $1,200,000 |
| SbaGuaranteedApproval | SBA/CDC portion (typically 40% of project cost) | $480,000 |
| GuaranteePct | Guarantee percentage (derived) | 40% |
| ThirdPartyDollars | Senior third-party lender's dollar contribution (typically 50% of project cost) | $600,000 |
| ApprovalDate | Date SBA approved the loan | 2022-03-08 |
| ApprovalFy | SBA fiscal year of approval (Oct-Sep) | 2022 |
| FirstDisbursementDate | Date first disbursement was funded (NULL if never funded) | 2022-04-21 |
| TermInMonths | Loan term length | 300 |
| InitialInterestRate | Stated interest rate at origination | 5.85% |
| FixedOrVariableInterestInd | Rate type indicator (504 is typically fixed) | Fixed |
| CollateralInd | Whether collateral was pledged | Y |
| ProcessingMethod | SBA processing method | PCLP |
| DeliveryMethod | SBA delivery method | 504 |
| Subprogram | 504 subprogram | 504 |
CDC (Certified Development Company)
| Field | Description | Example |
|---|---|---|
| CdcName | Certified Development Company name | TMC Development Corp. |
| CdcStreet | CDC street address | 1390 Market St |
| CdcCity | CDC city | San Francisco |
| CdcState | CDC state | CA |
| CdcZip | CDC postal code | 94102 |
Third-Party Senior Lender
| Field | Description | Example |
|---|---|---|
| ThirdPartyLenderName | Senior lender providing the conventional 50% portion | Wells Fargo Bank NA |
| ThirdPartyLenderCity | Senior lender city | San Francisco |
| ThirdPartyLenderState | Senior lender state | CA |
Performance & Status
| Field | Description | Example |
|---|---|---|
| LoanStatus | Current loan status (EXEMPT, PIF, CHGOFF, NOT FUNDED, CANCLD, LIQUID, etc.) | EXEMPT |
| PaidInFullDate | Date the loan was paid in full | — |
| ChargeOffDate | Date the loan was formally charged off | — |
| GrossChargeOffAmount | Total chargeoff dollars | $0 |
| MonthsToChargeOff | Months from approval to chargeoff (derived) | — |
| LossSeverity | Chargeoff amount as fraction of approval (derived) | — |
Source Lineage & Provenance
| Field | Description | Example |
|---|---|---|
| AsOfDate | SBA snapshot date the record came from | 2025-12-31 |
| SourceFile | Originating FOIA release filename | foia-504-fy2010-present-asof-251231 |
| SourceFileHash | SHA256 of the source release | f7e1… |
| IngestedAt | UTC timestamp of pipeline ingestion | 2026-04-29 14:22:01 |
| LoanBk | Deterministic surrogate loan key (hash of program + location_id + borrower + approval date + amount) | a4c7… |
Premium subscribers receive the full normalized field set as downloadable extracts. Sample loans, partial periods, and field-level provenance documentation are available on request.
Analytics Built on 504 Data
Capital expenditure lending patterns across geography, industry, and CDC performance
Geographic Concentration
504 lending is heavily concentrated in specific metro areas. We map county-level and state-level volume, average deal size, and chargeoff rates to reveal where capital is flowing for real estate and equipment purchases.
CDC Performance Rankings
There are roughly 250 active CDCs nationwide. We rank them by origination volume, average deal size, chargeoff rates, and geographic reach — so you can benchmark any CDC against its peers.
Industry Focus Areas
Which NAICS sectors use 504 financing the most? Real estate-related codes dominate, but manufacturing, healthcare, and hospitality are significant. We break down volume and performance by sector.
Chargeoff Trends
504 chargeoff rates are historically lower than 7(a) because the loans are collateralized by real property. We track chargeoff vintage curves, loss severity, and recovery patterns across approval years.
Third-Party Lender Analysis
The senior lender in a 504 deal takes the unguaranteed first-loss position. We track which banks participate most frequently, their average deal sizes, and their geographic footprint in the 504 market.
Deal Size Trends
Average 504 project costs have risen significantly over the past decade, driven by commercial real estate prices. We track deal size distributions over time by region and industry.
Who Uses 504 Data
Lenders, CDCs, and fintech platforms working in the 504 market
Community & Regional Banks
Benchmark your 504 participation against peers. Understand where CDCs are originating in your market and which industries are driving volume.
CDCs & SBA Lenders
Evaluate your portfolio performance relative to national benchmarks. Identify geographic white space and industry sectors with room to grow.
Fintech & Credit Platforms
SBA 504 data provides a clean signal on small business capital expenditure demand. Use it to calibrate underwriting models and validate geographic risk assumptions.
Get Access to 504 Loan Data
CDC rankings, geographic heatmaps, and chargeoff analytics