Using 504 loan for purchase of business when the real estate is held by a 3rd party

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by a searcher from Northeastern University
in Minneapolis, MN, USA

1mo ago

Using 504 loan for purchase of business when the real estate is held by a 3rd party

Has anyone used a 504 loan to fund a business and real estate when the real estate is NOT owned by the seller of the business? Can this be done? And what is best practice to approach this?

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reply by a professional 1mo ago
from Yeshiva University in New York, NY, USA

If you are purchasing both then I would generally expect to see this structured as a 504 to purchase the real estate and a 7A to purchase the business. If you are purchasing only the business, then you would do it as a 7A Happy to discuss further if you'd like.

reply by a professional 1mo ago
in New York, NY, USA

@redacted‌ can you help on this?