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Our Current SBA 504 Rates
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Not only are SBA 504 rates at all-time lows, fees have been reduced as well. The Small Business Administration (SBA) has announced the temporary elimination of certain 504 loan fees in accordance with the Economic Aid Act approved by Congress.
The act eliminates the 0.5% Bank Lender Participation Fee on loans in senior lien positions in 504 projects and the 1.5% Certified Development Company (CDC) Processing Fee in debenture pricing for all loans approved now through September 30, 2021 subject to funding appropriation levels for SBA.
The SBA 504 Loan Program provides up to 90% financing at below-market, fixed interest rates and long terms up to 25 years for the purchase of fixed assets, such as owner-occupied commercial real estate, renovations, new construction, energy efficient “green” initiatives and/or machinery and equipment, as well as the refinance of commercial mortgages and other business debt with or without a cash-out option.
504 loans are paired with private-sector commercial loans and provide up to $5 million of aggregate SBA eligibility on standard 504 projects; and up to $5.5 million per eligible small manufacturing project with no limit on total SBA dollars available. These limits are for SBA 504 (2nd Mortgage) Loans made by certified development companies like CMDC. There are no limits on overall project size.