SBA 504

Single Purpose Property List

The SBA defines a single purpose as: a limited market property with a unique physical design, special construction materials, or a layout that restricts its utility to the specific use for which it was built.

Single purpose properties, according to the SBA

Amusement parks
Auto service centers (with pits and in ground lifts)
Bowling alleys
Car washes
Cemeteries
Clubhouses
Cold storage facilities (where more than 50% of total square footage is equipped for refrigeration)
Dormitories
Farms and dairy facilities
Funeral homes with crematoriums
Gas stations
Golf courses
Hospitals, surgery centers, urgent care centers and other specialty medical facilities
Hotels and motels
Marinas
Mines
Museums
Nursing homes, including assisted living facilities
Oil wells
Quarries, including gravel pits
Railroads
Sanitary landfills
Sports arenas
Swimming pools
Tennis clubs
Theaters
Vineyards and wineries

Multi-use properties that qualify for 10% down

Some conventional lenders consider properties single purpose that the SBA does not (such as restaurants), so be sure to contact our loan experts to discuss your specific situation.