The April 2021 SBA 504 debenture pricing was completed on April 8, 2021.
25 Year Term3.07%
20 YearTerm3.02%
10 Year Term2.68%
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 FY21 fees. SBA 504 refi rates are approximately 4 basis points higher than debenture pricing noted above.
Take Advantage Of The 504 Loan Temporary Benefits Before They Expire
Under enacted federal COVID-19 relief legislation, SBA 504 loans approved before September 30, 2021, access the following benefits:
For loans approved now through September 30, 2021, or until the appropriated funds run out • Three months of payments made by SBA on behalf of the borrower • Payments are capped at $9,000 • Covers principle, interest and fees
Loan volume is at an all time high and is expected to only increase through the summer. Based on the SBA’s timetable, submitting deals as soon as possible will make a big difference due to the September 30 deadline for newly authorized dealsto receive payment subsidies and fee waivers.
Contact us for an estimated rate sheet to see how much your client will save!
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.
Margaret Griffin EVP, Chief Lending Officer (312) 360-3320 Email
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