13 CFR § 120.931 - 504 Lending limits.

---
identifier: "/us/cfr/t13/s120.931"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "13 CFR § 120.931 - 504 Lending limits."
title_number: 13
title_name: "Business Credit and Assistance"
section_number: "120.931"
section_name: "504 Lending limits."
chapter_name: "SMALL BUSINESS ADMINISTRATION"
part_number: "120"
part_name: "BUSINESS LOANS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "15 U.S.C. 634(b) (6), (b) (7), (b) (14), (h), and note, 636(a), (h) and (m), 650, 687(f), 696(3) and (7), and 697(a) and (e); sec. 521, Pub. L. 114-113, 129 Stat. 2242; sec. 328(a), Pub. L. 116-260, 134 Stat. 1182."
regulatory_source: "61 FR 3235, Jan. 31, 1996, unless otherwise noted."
cfr_part: "120"
---


# 120.931 504 Lending limits.

504 loan amounts shall be limited to:

(a) An outstanding balance of $5,000,000 for each Borrower and its affiliates if the loan proceeds will not be directed towards a Project in paragraph (c) of this section,

(b) An outstanding balance of $5,000,000 for each Borrower and its affiliates if one or more of the public policy goals enumerated in § 120.862(b) applies to the Project; and

(c) $5,500,000 for each Project for:

(1) Small Manufacturers (NAICS Codes 31-33) with all production facilities located in the United States;

(2) Reduction of the Borrower's, or if the Borrower is an Eligible Passive Company, the Operating Company's energy consumption by at least 10%; or

(3) Plant, equipment and process upgrades of renewable energy sources such as the small-scale production of energy for individual buildings' or communities' consumption, commonly known as micropower, or renewable fuel producers including biodiesel and ethanol producers.

[76 FR 63547, Oct. 12, 2011]