The May 2022 SBA 504 debenture pricing was completed on May 5, 2022.
25 Year Term5.12%
20 YearTerm5.06%
The 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 FY22 fees. SBA 504 refi rates are approximately 1 basis point higher than debenture pricing noted above.
SomerCor Chief Lending Officer, Margaret A. Griffin, published a piece in the latest issue of Daily Herald Suburban Business. The article is a great resource for small businesses on the benefits of financing fixed assets with the SBA 504 during this period of higher inflation and an increasing interest rate environment.
Started in 2004, Meeting Tomorrow is a leading full service AV and event technology partner to Fortune 500 companies, agencies, and associations. In 2016, company leadership decided to make the jump from renting their space to owning it.
“Working with SomerCor to secure a 504 loan enabled us to purchase property for our office at a below market rate with a minimal down payment requirement, freeing up cash to invest in our growth,” said founder Mark Aistrope. “The SomerCor team led us through the entire process and couldn’t have been more helpful.”
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, we are your bridge to the SBA 504 program.
Margaret Griffin EVP, Chief Lending Officer (312) 360-3320 Email
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