The August 2020 SBA 504 debenture pricing was completed on August 6, 2020.
25 Year Term2.27%
20 YearTerm2.21%
10 Year Term2.39%
SBA is offering a 504 Loan with a 25-year maturity for the acquisition of owner-occupied commercial real estate and related costs. This is in addition to the 10 and 20 year loans currently available in the 504 Loan Program. Loans are typically eligible for up to 90% financing of project costs. Rates include monthly servicing fees to CDC, SBA, and central servicing agent; based on SBA FY20 fees.
SBA 504 Lending: Financing Solutions for Banks and Borrowers [WEBINAR]
Led by SomerCor’s SBA 504 lending experts, this webinar details how the SBA 504 Purchase and Refi programs can help your small business clients, while enabling your bank to reduce credit exposure on commercial real estate and expand potential lending opportunities.
Through December 31, 2020, a loan currently on deferment or that was granted a deferment at some point in the past 12 months, can qualify to restructure existing commercial real estate debt under the 504 Refi program if it meets certain conditions.
SomerCor is a nonprofit, SBA Certified Development Company specializing in SBA 504 loan origination and servicing. For more than 25 years, SomerCor has proudly partnered with lenders and small businesses throughout Illinois.
Contact our team today to help your clients access the SBA 504 program.
Brian Comiskey CPA, EVP, Chief Lending Officer (312) 360-3311 Email