04/05: SBA Loans - SBA 504 rate drops - by CommercialLoanDirect.com
Category: Commercial Loans
Posted by: fmartin09
The debenture pricing for May 2010 was completed today and
the SBA 504 rate is 5.52% --- fully amortizing and FIXED for 20 Years!
There is also a 10-year SBA 504 loan for equipment (long-term useful life of at least 10-years). The rate is 4.60% for this loan, which is sold every other month.
The SBA 504 loan program was designed to provide up to 90% financing to small to medium sized business owners looking to purchase commercial owner occupied real estate. The typical structure includes a 50% first mortgage by the Bank/Lender, followed by up to a 40% second mortgage by the SBA; leaving the Borrower with the remaining 10% equity injection.
On April 15, 2010, the President signed legislation that provides additional Recovery Act funding available to pay the CDC Processing Fee and the Third-Party Lender Participation Fee until May 31, 2010.
SBA Loans - SBA 504 Program
the SBA 504 rate is 5.52% --- fully amortizing and FIXED for 20 Years!
There is also a 10-year SBA 504 loan for equipment (long-term useful life of at least 10-years). The rate is 4.60% for this loan, which is sold every other month.
The SBA 504 loan program was designed to provide up to 90% financing to small to medium sized business owners looking to purchase commercial owner occupied real estate. The typical structure includes a 50% first mortgage by the Bank/Lender, followed by up to a 40% second mortgage by the SBA; leaving the Borrower with the remaining 10% equity injection.
On April 15, 2010, the President signed legislation that provides additional Recovery Act funding available to pay the CDC Processing Fee and the Third-Party Lender Participation Fee until May 31, 2010.
SBA Loans - SBA 504 Program
