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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.
Mar 2021
The Small Business Administration (SBA) has released guidance temporarily authorizing Certified Development Companies (CDCs) to allow refinancing of the 1st mortgage lender loan on an existing 504 project in an amount that, when combined with the outstanding balance on the subordinate 504 loan, is not more than 90% of the total loan to value (LTV).
This temporary guidance is in effect now until Dec. 27, 2021, and any loan that refinances the 1st mortgage loan of an existing 504 project under this temporary authority must be closed and funded no later than Dec. 26, 2021.
The following conditions set forth in SOP 50 55 related to the subordination of the 504 loan to the new lender loan continue to apply:
See SBA Procedural Notice 5000-20099 for complete details.
For more information about the temporary refinancing of third party loans on existing 504 projects in Alabama, Florida or South Georgia, contact a Florida First Capital Loan Officer or email us at info@ffcfc.com. Phone: 850.681.3601 or toll-free at 888.320.5504.