SBA 504 vs. 7(a): which loan fits your building?
Two SBA loans can help you buy the place you work. Here is how they are different.
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Pictured: Kew Gardens Tower, 124-28 Queens Blvd. For sale or lease.View this property
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About PRO Links Commercial
PRO Links Commercial is the commercial team at PRO Links Realty, a New York real estate brokerage founded by Siang (Lillian) Liu. We help business owners, investors, landlords, and tenants buy, sell, and lease commercial property across Queens, Brooklyn, the Bronx, Manhattan, and Long Island.
Our team brings more than sales experience. Before real estate, Lillian ran retail and wholesale businesses. Adam Lee worked at Morgan Stanley and is a licensed general contractor. Aandy Chia has a lending background and helps clients plan their financing early. Together, we can judge a building, what it costs to fix up, and how to pay for it.
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Meet our team
Founder
Siang (Lillian) Liu
NYS Licensed Real Estate Broker / Owner
Lillian started PRO Links Realty. She has more than 10 years in real estate across New York City, Long Island, and the tri-state area. She buys and sells warehouses, office and retail buildings, mixed-use buildings, condos, homes, and land for new building. Before real estate, she ran stores and a wholesale business selling building materials. That is why she knows how good design and materials add value to a property.
917-418-8233 · Lillian@PROlinksRealty.com
Contact Lillian
917-418-8233
Adam Lee
NYS Licensed Real Estate Salesperson
Adam works on commercial and home deals. He started at Morgan Stanley in commercial and home mortgage bonds. Later he helped run a building materials company and became a licensed general contractor. He has led hundreds of renovation and new building jobs in NYC, so he knows building costs, design, and city building rules.
516-620-2246 · Adam.Lee@PROlinksRealty.com
Contact Adam
Aandy Chia
NYS Licensed Real Estate Associate Broker
Aandy helps investors and business owners buy, sell, lease, and finance commercial property across New York. He is an SBA and commercial loan specialist, so he looks at both sides of every deal: the property and the money behind it. He studies the numbers with you, lays out a clear plan, and shows you more than one way to look at it, so you can move forward with confidence. He also shares deal tips and market news.
917-577-5333 · Aandy.Chia@PROlinksRealty.com
Contact AandyOur offices
Meet us in Bayside or Midtown Manhattan. Call ahead and we will set up a time.
Guides for owners and buyers
What M1, C4, and C8 mean for your business
Zoning tells you what you can run in a building. Learn to read it before you sign.
Read the guideBuying a commercial condo in Queens
Offering plans, common charges, and taxes. What to check before you make an offer.
Read the guideTell us what you need
Buying, selling, leasing, or need a value check? Send a note and we will get back to you.
Email
commercial@prolinksrealty.com
Office
718-487-9992
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Effective date: October 3, 2026
This website is run by PRO Links Realty INC ("PRO Links," "we," "us"), a licensed New York real estate broker. It shows our commercial real estate listings and services. By using this site, you agree to these terms. If you do not agree, please do not use the site.
1. Commercial real estate only
This site is for commercial real estate: stores, offices, medical space, industrial space, mixed-use buildings, commercial condos, and land. It is meant for business owners, investors, landlords, and tenants who are adults.
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We get listing details from owners and other sources we believe are reliable. We do not promise that they are complete or correct. Prices, rents, sizes, taxes, common charges, and zoning can change at any time. A listing can be sold, leased, changed, or taken off the market without notice. All square footage is approximate. Please check every detail yourself, with your own lawyer, architect, or other expert, before you sign anything.
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13. Contact us
PRO Links Realty INC
271 Madison Ave. #1403, New York, NY 10016
220-10 Horace Harding Expy, Bayside, NY 11364
Phone: 718-487-9992
Email: commercial@prolinksrealty.com
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Effective date: October 17, 2026
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Effective date: October 3, 2026
PRO Links Realty INC ("PRO Links," "we," "us") runs this PRO Links Commercial website. We respect your privacy. This policy explains what information we collect on this site, how we use it, and the choices you have. By using this site or sending us a form, you agree to this policy.
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12. Contact us
PRO Links Realty INC, Commercial Division
271 Madison Ave. #1403, New York, NY 10016
220-10 Horace Harding Expy, Bayside, NY 11364
Phone: 718-487-9992
Email: commercial@prolinksrealty.com
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Effective date: October 3, 2026
PRO Links Realty INC respects the rights of photographers, designers, and other creators. Under the Digital Millennium Copyright Act (DMCA), we respond quickly to claims that content on this PRO Links Commercial website breaks someone's copyright.
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The listings on this site are PRO Links exclusive listings. The photos, floor plans, and brochures come from our own marketing or from property owners and sponsors who let us use them. This site does not show listing data from a Multiple Listing Service (MLS).
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PRO Links Realty INC
Attn: Copyright Agent
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Phone: 718-487-9992
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Financing guide
SBA 504 vs. 7(a): which loan fits your building?
Updated October 2026 · About a 4-minute read
If you run a business and want to stop paying rent, the U.S. Small Business Administration (SBA) has two loan programs that can help you buy the building you work in. Both need a smaller down payment than most regular commercial loans. But they work in different ways.
First: you have to use the building
SBA loans are for owner-users, not investors. Your business must use at least 51% of an existing building. For new construction, you must use at least 60% at the start. You can rent out the rest. A building you only plan to rent out does not qualify.
The SBA 7(a) loan
- What it pays for: real estate, plus many other things, such as fixing up the space, equipment, working capital, or buying a business.
- How big: up to $5 million.
- How long: up to 25 years for real estate.
- Rate: often variable. The SBA sets a cap on how much the bank can charge over the prime rate.
- Down payment: often about 10%, but each bank sets its own rules.
Good fit if: you want one loan that covers the building and your build-out, moving costs, or cash for the business.
The SBA 504 loan
A 504 loan has three parts:
- About 50% comes from a bank, as a first loan.
- About 40% comes from a Certified Development Company (CDC), backed by the SBA. This part has a fixed rate for 10, 20, or 25 years.
- About 10% is your down payment. It can be 15% for a new business or a special-use building, and 20% if both apply.
The CDC part can go up to $5 million (more for some manufacturers and energy projects). A 504 loan can only pay for long-term assets like real estate and big equipment. It cannot be used for working capital.
Good fit if: you are buying a building or condo and want a low, fixed rate on a large part of the loan for many years.
Quick compare
| SBA 7(a) | SBA 504 | |
|---|---|---|
| Best for | Building plus business costs | Building or big equipment only |
| Rate | Often variable | Fixed on the CDC part |
| Down payment | Often about 10% | 10% to 20% |
| Size | Up to $5 million | CDC part up to $5 million, plus the bank loan |
| Term for real estate | Up to 25 years | 10, 20, or 25 years |
What to do next
Before you make an offer, talk to a lender about which loan fits. Bring two to three years of business tax returns, a recent profit and loss statement, and the property details. Our team can help you plan the financing from the first call.
Talk to us about financingSee properties for sale
This guide is general information, not loan, legal, or tax advice. SBA rules, limits, and fees change. Check current terms with a licensed lender.
Zoning guide
What M1, C4, and C8 mean for your business
Updated October 2026 · About a 4-minute read
Before you sign a lease or buy a building in New York City, check its zoning. Zoning is the city's rulebook for what can go where. It decides if you can open a restaurant, a medical office, a warehouse, or a car shop at that address. You can look up any NYC address for free on the city's ZoLa zoning map.
How to read a zoning code
Each code starts with a letter:
- R means residential (homes).
- C means commercial (stores, offices, services).
- M means manufacturing (factories, warehouses).
The numbers after the letter set the type of district and how big a building can be. Some lots have two codes, like R6 / C2-3. That means a home district with a commercial "overlay," which allows shops on the ground floor.
Common commercial codes
- C1 and C2 overlays: small, local shops and services on blocks that are mostly homes, like delis, salons, dry cleaners, and small restaurants. You will see these on many Queens and Brooklyn avenues.
- C4: busy shopping centers, like downtown Flushing or Jamaica. These allow larger stores, offices, gyms, and movie theaters that draw people from the whole area.
- C8: heavy commercial uses, like car dealers, auto repair, gas stations, and storage. New homes are not allowed.
Manufacturing codes
- M1: light manufacturing, like warehouses, wholesale, and workshops. Many offices and stores are allowed too. New homes are generally not allowed.
- M2 and M3: heavier industry. These are less common for small businesses.
Medical offices and day cares
Many listings say "community facility" or "CF." These are uses like medical offices, schools, day cares, and houses of worship. They are allowed in many residential and commercial districts, but each has its own size and use rules.
Zoning is not the whole story
Also check the building's Certificate of Occupancy (C of O). It says what the space is legally approved for and how many people it can hold. A space with the right C of O can save you months of time and a lot of money. For example, a store already approved as a restaurant does not need a change-of-use filing.
The city updated many of its use rules in 2024. Ask an architect or zoning lawyer to confirm your exact use before you sign. Outside the city, like in Great Neck or New Hyde Park, each town or village has its own zoning code.
Ask us about a property's zoningSee our listings
This guide is general information, not legal advice. Zoning rules change. Always confirm with the NYC Department of City Planning, the Department of Buildings, or a licensed professional.
Condo guide
Buying a commercial condo in Queens
Updated October 2026 · About a 4-minute read
A commercial condo lets you own your store, office, or medical space instead of renting it. You own your unit plus a share of the shared parts of the building, like the lobby, elevators, and roof. Here is what to check before you make an offer.
1. Read the offering plan
For a new building, the developer (the "sponsor") must file an offering plan with the New York State Attorney General. You will often see its file number on flyers, like "CP24-0045." The plan lists each unit's size, what it can be used for, the building budget, and the common charges. Your lawyer should read it, and any amendments, before you sign.
2. Check the use rules
The condo's declaration and bylaws may limit what you can do. Ask about restaurants and kitchen venting, medical use, signs, hours, and deliveries. Make sure your business is allowed in your unit.
3. Know your monthly costs
- Common charges pay for shared costs like cleaning, insurance, and repairs. Some sponsors lower them for the first year or two. Ask when that discount ends and what the full amount will be.
- Real estate taxes: each condo unit has its own tax bill. New or renovated buildings may get a tax break called ICAP (Industrial and Commercial Abatement Program). Ask how much it lowers your taxes, and for how many years.
4. Check the Certificate of Occupancy
Ask if the building has a final or temporary C of O, and what use it allows for your unit. This matters for your business license and your loan.
5. Plan your financing early
Commercial condo loans are different from home loans. If your business will use the unit, an SBA 504 or 7(a) loan may let you put down as little as 10%. See our SBA loan guide.
6. Budget for closing costs
In New York City, deals over $500,000 usually pay a city transfer tax of 2.625% and a state transfer tax of 0.4% (0.65% for commercial deals of $2 million or more). In a new sponsor sale, the buyer often pays these. A commercial mortgage of $500,000 or more also pays a city mortgage recording tax of about 2.8%. Add lawyer, title, and lender fees. Your lawyer will give you exact numbers.
Good news: usually no board interview
Unlike co-ops, most commercial condos do not need a board to approve the buyer. Some have a "right of first refusal," so check the bylaws.
See Kew Gardens Tower condosSee Northern 146 condos
This guide is general information, not legal, tax, or loan advice. Tax rates and rules change. Confirm all costs with your lawyer and lender.