December 2024 SBA 504 Interest Rates
25 Year Term 6.09%
20 Year Term 6.16%
10 Year Term 6.46%
The December 2024 SBA 504 debenture pricing was completed on December 5, 2024. The SBA offers 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 FY25 fees. SBA 504 refi rates are approximately 3 basis points higher than debenture pricing noted above.
SomerCor is now a 501(c)(3) Certified Development Company
We’re proud to share a transformative milestone in our mission to support small businesses, lending partners, and economic development clients: SomerCor is now a 501(c)(3) Certified Development Company!
As a charitable organization, this new designation opens doors to additional resources and philanthropic opportunities, allowing us to further our mission of empowering entrepreneurs and strengthening communities. It’s a game-changer for how we can provide enhanced services, expanded programs, and innovative solutions to better support small businesses and drive meaningful economic development.
This step reinforces our commitment as a premier Certified Development Company to delivering impactful support to those we serve. We are excited to leverage this new opportunity to expand our reach and deepen our impact.
Stay tuned for updates as we continue building a brighter future for small businesses and communities. Let’s make great things happen together!
According to the 2024 FDIC Small Business Lending Survey, lack of expertise and qualified personnel is a top reason why lenders limit their SBA program lending. Certified Development Companies (CDCs), like SomerCor, exist to help close the information gap for all lenders and expand access to capital for businesses through the SBA 504 loan program.
At SomerCor, our expert staff serves with the dual purpose of helping business owners access the 504 loan and partnering with participating lenders to navigate the SBA lending process quickly and efficiently. Contact us today to learn how SomerCor can support your institution’s SBA lending portfolio!
