The December 2020 SBA 504 debenture pricing was completed on December 10, 2020.
25 Year Term2.62%
20 YearTerm2.58%
10 Year Term2.42%
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 FY21 fees. SBA 504 refi rates are approximately 4 basis points higher than debenture pricing noted above.
Financing for Frontline Health Care Providers: Three Reasons to Use the SBA 504 Program
Health care providers in private practice wear many hats. In addition to being a critical part of our health care system, they are also small business owners.
The SBA 504 loan program is a great option for individual and group health care provider practices looking for more office or treatment space and the ability to personalize it to meet the highest level of patient care.
Illinois Business Interruption Grants Still Available for Your Small Business Clients
> Grant size ranges from $5,000-$150,000 based on business losses
> Eligible for-profit businesses are located in Illinois, less than $20 million gross operating revenue in 2019, experienced net operating loss and reduced revenues due to COVID-19
Applications are being accepted and evaluated on a rolling basis and businesses will receive a decision within four to six weeks of submission.
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