The November 2020 SBA 504 debenture pricing was completed on November 5, 2020.
25 Year Term2.55%
20 YearTerm2.52%
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.
SomerCor 504 Focus: Celebrating Veterans Small Business Week
The SBA highlights “expanding small businesses owned and controlled by veterans” as a policy goal of the SBA 504 program. We are proud to serve these heroes, like Dr. Hernandez, in their entrepreneurial dreams.
Dr. Hernandez partnered with SomerCor on a 504 loan to purchase his office in Bloomington, IL. By owning, rather than renting, he decreased his payments by 42% – saving over $3000 a month! Click here to read his story.
Maximization for Manufacturers: Three Reasons to Use the 504
Illinois is the fourth largest manufacturing state in the country, with more than 18,000 companies employing over 550,000.
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