The September 2023 SBA 504 debenture pricing was completed on September 7, 2023.

25 Year Term 6.81%

20 Year Term 6.86%

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 FY23 fees. SBA 504 refi rates are approximately 2 basis points higher than debenture pricing noted above.

The SBA 504 refinance program offers traditional lenders a way to help new and existing customers access equity and take advantage of fixed interest rates, while at the same time reducing their own credit exposure. Plus, existing government-guaranteed debt, including 7(a) and 504 loans, is now eligible.

Connect with SomerCor today to learn more about the 504 REFI and how it can support your small business clients as a strategic debt restructuring solution.

McCann Industries, Inc. is a family-owned business founded in 1967. What started as a small concrete forms and accessories shop, is now a market leader in construction equipment and construction supply sales with 10 locations.

When the opportunity arose to purchase the property next door to their existing facility in Wauconda, Owner & CEO, Jim McCann, partnered with SomerCor on an SBA 504 loan to purchase and renovate the property into an 11,000 square foot Service Center.

Learn more about McCann Industries and how the SBA 504 program can help your small business client access long-term, fixed rate financing on commercial real estate and equipment.

SomerCor is a nonprofit, SBA Certified Development Company specializing in SBA 504 loan origination and servicing. For over 30 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
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Eric Bacon

SVP, Loan Officer
(312) 360-3335
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Darin Gehrke

SVP, Loan Officer
 (217) 793-1075
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Elisabeth Williams

SVP, Loan Officer
(312) 360-3302
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Brian Comiskey, CPA

EVP, Chief Credit Officer
(312) 360-3311
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