13 C.F.R. § 120.882 Eligible Project costs for 504 loans.
Title 13 - Business Credit and Assistance
Eligible Project costs which may be paid with the proceeds of 504 loans are: (a) Costs directly attributable to the Project including expenditures incurred by the Borrower (with its own funds or from a loan): (1) To acquire land used in the Project prior to applying to SBA for the 504 loan; or (2) For any other expense toward a Project within nine months prior to receipt by SBA of a complete loan application, unless the time limit is extended or waived by SBA for good cause; (b) In Projects involving construction, a contingency reserve for cost overruns not to exceed 10 percent of construction cost; (c) Professional fees directly attributable and essential to the Project, such as title insurance, opinion of title, architectural and engineering costs, appraisals, environmental studies, and legal fees related to zoning, permits, or platting; and (d) Repayment of interim financing including points, fees and interest. [61 FR 3235, Jan. 31, 1996, as amended at 68 FR 57987, Oct. 7, 2003]
Title 13: Business Credit and Assistance
PART 120—BUSINESS LOANS
Subpart H—Development Company Loan Program (504)
Loan-Making Policies Specific to 504 Loans
§ 120.882 Eligible Project costs for 504 loans.
