Up to $1,500,000 ($2,000,000 in certain situations) or 40% of the eligible project costs, whichever is less. Certain manufacturers are eligible for up to $4,000,000. Proceeds may be used only for Fixed assets. The interest rate is 1 1/2% above the 5 and 10 year treasury notes on the SBA portion and the term is 10 or 20 years based on the life of the asset. A typical loan will have a first mortgage of 50%, a 504 debt of 40% and equity of 10%. A one-time fee applies and can be financed as part of the loan.