504 lending data
Which CDC and which bank do you need for a 504 loan in Kentucky?
The CDCs and first-mortgage banks that actually closed SBA 504 projects in Kentucky, including which pairs work together most often.
75 SBA 504 projects were approved in Kentucky recently, at a median total project size of $1,130,000. The busiest CDC was Alloy Development Co., Inc with 22 loans, and the most active first-mortgage bank was Republic Bank & Trust Company.
You need two lenders, not one
This is the thing that trips up most first-time 504 borrowers. A 504 project is a stack: a bank provides roughly 50% as a first mortgage, a Certified Development Company provides roughly 40% as an SBA-backed second mortgage, and you put in about 10%. Both institutions have to approve, and they have to be willing to work with each other.
What 504 lending in Kentucky looks like
Computed from SBA 504 loan-level FOIA data released 2026-06-30, covering projects approved fiscal years 2023 to 2026, using data released June 2026.
| Measure | Kentucky | All 504 borrowers |
|---|---|---|
| Projects approved | 75 | 22,192 |
| Median CDC portion | $509,000 | $730,000 |
| Median total project | $1,130,000 | $1,642,000 |
| Median term | 25 years | 25 years |
| Share to newer businesses | 21.3% | 16.5% |
| Charge-off rate, mature cohorts | 10.0% | 8.0% |
| Jobs supported | 645 | 235,155 |
Which CDCs are active in Kentucky
CDCs are non-profits licensed by the SBA, and they are regional — most serve a defined territory. These are the ones actually closing projects here.
| CDC | 504 loans, fiscal years 2023 to 2026, using data released June 2026 |
|---|---|
| Alloy Development Co., Inc | 22 |
| Community Ventures Corporation | 17 |
| Capital Access Corporation - Kentucky | 14 |
| Purchase Area Development District | 10 |
| Premier Capital Corporation | 6 |
| Indiana Statewide Certified Development Corporation | 2 |
Which banks write the first mortgage
The bank half of the stack is a conventional commercial mortgage on the bank's own terms. A bank that has closed dozens of 504s knows the process; one that has closed none will add weeks.
| Bank | 504 loans, fiscal years 2023 to 2026, using data released June 2026 |
|---|---|
| Republic Bank & Trust Company | 7 |
| Community Trust Bank, Inc | 6 |
| Heritage Bank Inc | 6 |
| Traditional Bank Inc | 5 |
| First Financial Bank | 5 |
| First Harrison Bank | 4 |
| Bank of the Bluegrass & Trust Company | 4 |
| Stock Yards Bank & Trust Company | 4 |
The pairings that actually close
This is the useful part, and it is not published anywhere else. Both lenders have to approve and coordinate two simultaneous closings. Pairs that have already done it together dozens of times are a materially smoother experience than assembling a new combination.
| CDC (second mortgage) | Bank (first mortgage) | Projects together |
|---|---|---|
| Alloy Development Co., Inc | Republic Bank & Trust Company | 6 |
| Alloy Development Co., Inc | Heritage Bank Inc | 4 |
| Community Ventures Corporation | Bank of the Bluegrass & Trust Company | 3 |
| Premier Capital Corporation | First Harrison Bank | 3 |
| Capital Access Corporation - Kentucky | Community Trust Bank, Inc | 3 |
| Purchase Area Development District | First Financial Bank | 3 |
| Community Ventures Corporation | Traditional Bank Inc | 2 |
| Community Ventures Corporation | Central Bank & Trust Co | 2 |
How to use this
- Call two CDCs from the table above. Ask whether your project type and county are in their territory, and what their current turnaround is.
- Ask each CDC which banks they close with most. Compare their answer to the pairings table — if it matches, you are on a well-worn path.
- Check the occupancy rule before anything else. You must occupy at least 51% of an existing building, or 60% of new construction. Investment property is not eligible.
- Order the appraisal and Phase I environmental early. They are the most common cause of a delayed 504 closing.
- Understand the rate timing. The CDC portion prices at a debenture sale after closing, not at approval. See the rates page for current levels.
Compare other states
- Busiest 504 markets: California, Florida, Texas, Illinois, Utah, Minnesota, Massachusetts, New York