- Loan Programs
- Lending News
- Our Story
- Contact Us
SBA 504 Loan Interest Rates
May 2022
25-Year Fixed Rate Standard:
5.119%
25-Year Fixed Rate Refinance:
5.133%
20-Year Fixed Rate Standard:
5.061%
20-Year Fixed Rate Refinance:
5.075%
10-Year Fixed Rate Standard:
4.931%
10-Year Fixed Rate Refinance:
4.948%
Full-term fixed interest rates shown; includes all servicing fees
Feb 2009
Amid tightened credit by commercial lenders and a downturn in the economy, small business lending has all but dried up for entrepreneurs. Small business owners still have access to affordable credit through the Small Business Administration's (SBA) 504 and 7(a) loan programs, but even these programs have seen a recent decline in loans.
A boost is much needed for these important financing programs and that very well may come as part of the massive stimulus plan being debated in Congress now.
The National Association of Development Companies (NADCO), of which FFCFC is a member, has been pivotal in the creation of and lobbying for key changes to the 504 loan program. FFCFC supports NADCO's efforts and encourages all lenders to contact their Congressmen in favor of the proposed changes.
Following is a summary of the proposed changes in both the House and Senate bills:
The Senate bill, FYI, also contains several non-504 appropriations, including:
Senate leadership has indicated that the debate on S. 336 may be long and difficult, even with President Barack Obama wading into the discussions. The president is pressing to have a completed bill, conferenced and passed by Congress by mid February.
With 504 volume down by 40% this year, these changes will help stop the slide and get the program growing again as it has done in every recession since the mid-1980s. So while the aforementioned legislation is in the works, it will not be known exactly what will be in the stimulus bill for the 504 program until the conference process is completed and the final bill is signed into law.
For more information on Florida First Capital and its 504 loan program, visit www.ffcfc.com, email us at insider@ffcfc.com or call 888.320.5504.
Editor's note: excerpted from NADCO's Certified News, February 2009 issue.