SBA 504 Loans in Cleveland, OH
Find lenders offering sba 504 loans in the Cleveland, including Akron, Lakewood, Parma, and surrounding areas. Compare rates, terms, and programs from 22 lenders.
Which SBA 504 lenders serve Cleveland?
22 lenders offering sba 504 loans in the Cleveland, OH area.
The Huntington National Bank
Local SBACOLUMBUS, OH
Major regional bank and consistently one of the top SBA lenders in the country by number of loans. Offers SBA 7(a) and 504 loans alongside conventional business lending, commercial real estate, and treasury management services.
U.S. Bank, National Association
Local SBACincinnati, OH
Fifth-largest commercial bank in the U.S. and a top SBA preferred lender. Offers SBA 7(a) and 504 loans, conventional commercial lending, commercial real estate, and a full suite of business banking products.
Fifth Third Bank
Local SBACINCINNATI, OH
Major regional bank and SBA preferred lender with operations across the Midwest and Southeast. Offers SBA 7(a) and 504 loans, conventional commercial lending, equipment financing, and commercial real estate loans.
KeyBank National Association
Local SBACLEVELAND, OH
Major regional bank and SBA preferred lender with nationwide commercial banking operations. Offers SBA 7(a) and 504 loans, conventional business lending, commercial real estate, equipment finance, and capital markets services.
Alloy Development Co., Inc.
Local SBACincinnati, OH
Community Capital Development Corporation
Local SBADublin, OH
Cascade Capital Corporation
Local SBAAkron, OH
Ohio Statewide Development Corporation
Local SBAColumbus, OH
Growth Capital Corp.
Local SBACleveland, OH
Valley Economic Development Partners, Inc.
Local SBAYoungstown, OH
Live Oak Banking Company
SBAWILMINGTON, NC
One of the nation's top SBA 7(a) lenders, specializing in lending to small businesses across healthcare, veterinary, beverage, self-storage, and other industries. Offers SBA loans, USDA loans, conventional business loans, and commercial real estate financing.
Readycap Lending, LLC
SBABERKELEY HEIGHTS, NJ
Non-bank SBA preferred lender offering SBA 7(a) and 504 loans nationwide. Specializes in commercial real estate, business acquisition, and expansion financing for small businesses. Known for fast closings and flexible underwriting.
Bank of Hope
SBALOS ANGELES, CA
One of the largest Korean-American banks in the U.S. and a top SBA 7(a) lender. Offers commercial real estate loans, SBA lending, trade finance, and full-service commercial banking with branches across major metro areas.
Wells Fargo Bank National Association
SBASioux Falls, SD
One of the largest banks in the U.S. and a major SBA preferred lender. Offers the full range of SBA programs including 7(a) and 504 loans, alongside conventional commercial lending, commercial real estate, and equipment financing.
Byline Bank
SBACHICAGO, IL
Chicago-based bank and one of the top SBA 7(a) lenders in the Midwest. Provides SBA loans, commercial real estate financing, equipment loans, and government-guaranteed lending for small and mid-sized businesses.
What does the Cleveland commercial real estate market look like?
Cleveland's CRE market is defined by its healthcare and advanced manufacturing strengths, with the Cleveland Clinic and University Hospitals together forming one of the largest medical employment clusters in the country. The Health-Tech Corridor along Euclid Avenue from downtown through University Circle has attracted life sciences startups, medical device companies, and research facilities, creating a specialized submarket with growing lab and R&D space demand. The downtown core has seen meaningful residential conversion activity in the Warehouse District and East 4th Street area, while the lakefront around North Coast Harbor is positioned for long-term redevelopment. The I-77 and I-480 corridors through Independence and Brecksville form the primary suburban office submarket, while industrial demand remains anchored by the steel, polymer, and automotive supply chain along the I-90 corridor east toward Mentor.
Key Economic Drivers
- ●Cleveland Clinic's global healthcare operations and research campus driving medical office and life sciences demand
- ●NASA Glenn Research Center and its aerospace technology cluster supporting specialized industrial tenants
- ●KeyBank and Progressive Insurance headquarters sustaining downtown and suburban office absorption
- ●Port of Cleveland and steel/polymer manufacturing base generating industrial CRE demand along the I-90 corridor
Market Insight
Ohio's Historic Preservation Tax Credit program, which offers a 25% state credit on qualified rehabilitation expenditures, has been particularly impactful in Cleveland, where over $5 billion in historic building rehabilitations have been completed in the downtown and University Circle areas.
How do sba 504 loans work in Cleveland, Ohio?
SBA 504 loans provide long-term, fixed-rate financing for major fixed assets like commercial real estate and heavy equipment. The loan is split between a bank (50%), a Certified Development Company (40%), and your down payment (10%), resulting in below-market rates on the CDC portion. In the Cleveland metro area, borrowers can access 22 lenders offering SBA 504 financing, including Akron, Lakewood, Parma, and surrounding areas. Loan amounts typically range from $125K to $17M with rates from Below market (CDC portion ~5-6%).
Who should consider sba 504 loans?
- Owner-occupied commercial real estate
- Heavy equipment purchase
- Business expansion
- New construction
What are the key requirements?
- For-profit business
- Net worth under $15M
- Average net income under $5M (after taxes) for prior 2 years
- 51%+ owner occupancy
- Create or retain jobs (1 per $90,000 CDC)
Advantages
- ✓Only 10% down payment
- ✓Below-market fixed rate on CDC portion
- ✓Long terms (20-25 years for RE)
- ✓No balloon payments
Considerations
- •Must be owner-occupied (51%+ for existing, 60%+ for new construction)
- •Cannot be used for working capital
- •Longer closing timeline
- •Two closings (bank + CDC)
SBA 504 Loans in Cleveland FAQ
How many SBA 504 lenders serve Cleveland, OH? ▼
What are SBA 504 loan rates in Cleveland? ▼
What is a Certified Development Company (CDC)? ▼
Can I use SBA 504 for a rental property? ▼
How is the SBA 504 loan structured? ▼
Where else can I find sba 504 loans in Ohio?
Guides & resources
Find SBA 504 Lenders in Cleveland
Get matched with lenders offering sba 504 loans in the Cleveland, OH area. Free for borrowers.
Get Matched — Free →