SBA rules · SOP 50 10 8.1
Can an SBA loan finance an apartment building or mobile home park?
No, an SBA loan cannot be used to finance an apartment building or a mobile home park.
Quoted from SBA SOP 50 10 8.1Every quote checked word for word
In detail
- Ineligible property types: Apartment buildings and mobile home parks are explicitly listed as ineligible businesses.
- Scope of prohibition: An ineligible business is prohibited from obtaining an SBA loan for any purpose, including the purchase or construction of a building for its own use.
The source
What the SOP says
“Apartment buildings and mobile home parks are not eligible.
“An ineligible business cannot obtain an SBA Loan for any purpose, including the purchase or construction of a building for its own use.
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This page quotes the SBA's Standard Operating Procedure 50 10 8.1. Lenders can ask for more than the SBA minimum. It is general information, not a loan approval or legal advice.