US SBA SOP 50 10 8.1 Lender and Development Company Loan Programs
Section C Ch 1: 504 eligibility through application – US SBA SOP 50 10 8.1 Lender and Development Company Loan Programs

US SBA SOP 50 10 8.1 Lender and Development Company Loan Programs C1-A: Section C Ch 1 Para A: 504 economic development objectives and job opportunity averages

The CDC ensures every 504 Project meets at least one economic development objective under 13 CFR 120.860 to 120.862: creating or retaining job opportunities at the per-job ratio SBA sets for the dollars it guarantees (a higher ratio for Small Manufacturers and Energy Public Policy Projects), or a community development or public policy goal stated in the application, in which case its portfolio, including the loan, must meet the required job opportunity average (a higher average for Special Geographic Areas, which it may track separately; Small Manufacturer and eligible energy projects excluded). Energy Public Policy Projects (at least 10% lower energy use from a replacement facility in the same area or a retrofit, not for new businesses; renewable generation of more than 15% of the facility's energy with all generating equipment in project costs; or sustainable design) are documented by an independent third-party energy audit or engineering report measuring actual energy units, current and projected use, and the evaluator's qualifications. Where no objective is met, the debenture is reduced until the job requirement is.

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