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.
The Small Business Administration (SBA) has appointed Jon “Malcolm” Richards as the North Florida District Director. He will oversee the implementation of SBA programs and services across the 43-county North Florida territory.
Richards replaces Michael Barrera as the district director and brings a wealth of experience to the North Florida area that will benefit the small business community. His experience includes over 20 years in economic development and entrepreneurial development, with a specialization in the needs of underserved and disadvantaged communities.
He is an experienced commercial lender and has served as the district director for the SBA in Kansas City, Missouri, for 6 years. His expertise will be instrumental in helping the SBA North Florida office continue to provide outreach and support to small business owners in the territory. His focus will be to increase lending and contracting opportunities for small businesses.
“I look forward to working with our resource and community partners throughout the district as we shift from pandemic recovery to small business resurgence. Our small businesses are of course the backbone of our economy, and I along with the North Florida team will be here to help our entrepreneurs start and grow their businesses,” said Richards.
Prior to his role as district director for the Kansas City District Office, Richards served as the acting deputy district director for the SBA New York City District Office. He has also served in the capacity as acting regional administrator for the agency. He has worked in various other roles and locations in the organization including supervisory lender relations specialist, supervisory economic development specialist and branch manager.
Prior to his federal experience, Richards worked for 3 of the largest commercial banks in the nation in leadership and management proles, overseeing small business and commercial lending, investments and strategic planning. Richards also owned and managed a small business for several years. Richards holds MA and MBA degrees.
Richards will oversee the implementation of SBA programs across 43 counties in North Florida. He will be responsible for the oversight of approximately $1 billion of annual federal contracting dollars and over $500 million of annual lending guarantees through the North Florida District Office. Additionally, Richards will provide support to the district’s counseling partners including the Small Business Development Centers; SCORE Chapters; Women’s Business Center; U.S. Export Assistance Centers; Veteran Business Outreach Center; and Procurement Technical Assistance Centers.
Welcome District Director Richards!
