SBA 504 Loan Interest Rates
Official monthly SBA 504 effective interest rate tables can be found at Eagle Compliance LLC. 25- and 20-year term loans fund every month; 10-year term loans fund every other month. Effective interest rates are inclusive of servicing fees, which are subject to credit risk of the applicant.
March 26, 2010 -- Most up-front 504 program fees will continue to be eliminated through April, thanks to legislation passed yesterday by the U.S. Congress.
Up to $40 million is made available for both 504 and 7(a) fee reductions. The source of the money is funding for 7(a) guarantees that was included in the Small Business Administration's (SBA) regular appropriation last year.
Additional legislation is currently in the works which contains $560 million to extend the program fee eliminations until either Dec. 31, 2010, or whenever the funds are exhausted. This legislation also would provide both the $5 million debenture limit ($5.5 million for manufacturers; SBA portions) and the ability to refinance existing debt through the 504 program.
If the additional legislation is not passed by the end of April, lenders and borrowers can expect the SBA to re-activate its Recovery Act Loan Queue. Once this occurs, loans are placed into the queue awaiting the availability of funds.
For more information about 504 loans in Florida, contact Florida First Capital by visiting www.ffcfc.com, emailing us at insider@ffcfc.com or calling 888.320.5504.
* Below market, fixed interest rates.
* Long amortization terms (up to 20 years).
* Loans are assumable by qualified, acquiring businesses.
* Projects from $125,000 to $20 million.
* Temporary elimination of most up-front program fees.
Click here for 504 highlights & key facts (PDF).
* Buy land and existing building.
* Remodel, convert, expand or renovate existing building.
* Green initiative projects.
* Purchase of long-life machinery and equipment.
* Associated fees and soft costs.
Click here for 504 loan criteria (PDF).
Stacy Thorrington. Phone: 850.393.0496
Email: stacy@ffcfc.com
Kristen Tackett. Phone: 904.861.2270
Email: kristen@ffcfc.com
John Hanrahan. Phone: 407.276.4961
Email: john@ffcfc.com
Deborah Petrell. Phone: 561.756.1745
Email: deborah@ffcfc.com
Loretta Mathushek. Phone: 239.877.4794
Email: loretta@ffcfc.com
Dana Albury. Phone: 561.400.2084
Email: dana@ffcfc.com
Bruce Boddie. Phone: 561.289.8410
Email: bb@ffcfc.com
Carlos Calero. Phone: 786.229.4688
Email: carlos@ffcfc.com
Deborah Petrell. Phone: 561.756.1745
Email: deborah@ffcfc.com
Click here for a map of FFCFC regional office locations (pdf).
