Loan size
- SBA 504 (with CDC)
- First trust deed $750,000–$20 million (below $750,000 case-by-case)
- Owner-occupied bank-statement loan
- $200,000–$3 million
Owner-occupied property
SBA 504 or Bank-Statement Loan? Which Fits Your Owner-Occupied Property
Cressida Direct is the first-mortgage lender on SBA 504 loans for owner-occupied commercial property, funding a first trust deed of $750,000 to $20 million (smaller loans considered case-by-case) at 50% loan-to-value alongside a Certified Development Company (CDC), for combined financing up to 90% of value on a 25-year term and 25-year amortization. SBA 504 requires the business to occupy 51% or more of the property, is full documentation including business and personal tax returns, and typically closes in 60–90 days. Owners who want to skip tax returns can use Cressida Direct's owner-occupied bank-statement loan instead: $200,000 to $3 million on 12 months of business bank statements, a 650 minimum FICO, and closing in 35–45 days.
ApplyWho SBA 504 fits
- A for-profit business that occupies 51% or more of the property and meets SBA size standards.
- Purpose: purchase or refinance commercial real estate, ground-up construction, debt refinance, equipment, or working capital and closing costs.
- The owner wants the lowest down payment (as low as 10%) and long-term financing, and can provide full financials and wait 60–90 days.
- Structure: Cressida Direct first trust deed at 50% loan-to-value, plus a CDC/SBA second, plus about 10% borrower equity. An interim second trust deed can run up to the amount the CDC approves, and up to 24 months for construction. Rates can be fixed or variable.
Side-by-side
| SBA 504 (with CDC) | Owner-occupied bank-statement loan | |
|---|---|---|
| Loan size | First trust deed $750,000–$20 million (below $750,000 case-by-case) | $200,000–$3 million |
| Leverage | 50% first plus a CDC second, up to 90% combined | Up to 80% on a purchase / 75% on a refinance and cash-out |
| Documentation | Full documentation, including tax returns | 12 months of business bank statements, no tax returns |
| Qualification | SBA SOP debt-service guidelines | 30% of average monthly deposits must cover debt service at 1.15x DSCR; 650 FICO |
| Borrower | Operating business meeting SBA size standards | Individual, LLC, or S-corp |
| Occupancy | 51% or more | 51% or more of the space |
| Term | 25 years; fixed and variable rates | Fully amortized over 25 or 30 years. No balloon payment. Rates 8.25%–11.25%. |
| Close time | 60–90 days | 35–45 days |
Leverage
- SBA 504 (with CDC)
- 50% first plus a CDC second, up to 90% combined
- Owner-occupied bank-statement loan
- Up to 80% on a purchase / 75% on a refinance and cash-out
Documentation
- SBA 504 (with CDC)
- Full documentation, including tax returns
- Owner-occupied bank-statement loan
- 12 months of business bank statements, no tax returns
Qualification
- SBA 504 (with CDC)
- SBA SOP debt-service guidelines
- Owner-occupied bank-statement loan
- 30% of average monthly deposits must cover debt service at 1.15x DSCR; 650 FICO
Borrower
- SBA 504 (with CDC)
- Operating business meeting SBA size standards
- Owner-occupied bank-statement loan
- Individual, LLC, or S-corp
Occupancy
- SBA 504 (with CDC)
- 51% or more
- Owner-occupied bank-statement loan
- 51% or more of the space
Term
- SBA 504 (with CDC)
- 25 years; fixed and variable rates
- Owner-occupied bank-statement loan
- Fully amortized over 25 or 30 years. No balloon payment. Rates 8.25%–11.25%.
Close time
- SBA 504 (with CDC)
- 60–90 days
- Owner-occupied bank-statement loan
- 35–45 days
Eligible bank-statement property types published on the owner-occupied page are office, medical and dental, retail, light industrial and warehouse, mixed-use, automotive, restaurant and bar, day care, and self-storage.
How to choose
Pick SBA 504 for maximum leverage and long-term financing when your tax returns show the income. Pick the bank-statement loan when tax returns understate income, you need to close in 35–45 days, or you want a cash-out refinance up to 75% loan-to-value.
Qualifying cash flow is 30% of average monthly business deposits, and that cash flow must cover debt service at a 1.15x DSCR.
Also available
SBA 7(a) runs from $750,000 to $5 million, with smaller loans considered case-by-case, and can cover real estate plus working capital, a business acquisition, and equipment. Both SBA programs are full documentation. The program page compares the two structures.
Questions people ask
Does Cressida Direct offer SBA 504 loans?
Yes. Cressida Direct funds the first trust deed on SBA 504 loans, $750,000 to $20 million at 50% loan-to-value (smaller loans case-by-case), alongside a Certified Development Company, for up to 90% combined loan-to-value.
Who qualifies for an SBA 504 loan?
A for-profit business that occupies 51% or more of the property and meets SBA size standards, with full business and personal financials including tax returns.
How long does an SBA 504 loan take?
Typically 60–90 days from a complete file.
Is there a faster owner-occupied option without tax returns?
Yes. Cressida Direct's owner-occupied bank-statement loan lends $200,000 to $3 million on 12 months of business bank statements with a 650 minimum FICO and closes in 35–45 days.
How does the bank-statement loan qualify income?
30% of your average monthly business deposits must cover the debt service at a 1.15x DSCR.
What terms does the bank-statement loan offer?
A 25- or 30-year term and amortization, fully amortized, with no balloon, rates 8.25%–11.25%, and cash-out refinances up to 75% loan-to-value.