April 2025 SBA 504 Interest Rates
25 Year Term 6.43%
20 Year Term 6.45%
10 Year Term 6.34%
The April 2025 SBA 504 debenture pricing was completed on April 10, 2025. 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 and the Aurora Regional Economic Alliance (Alliance) are proud to announce a new partnership.
Formed in January 2025, the Alliance united four organizations—the Aurora Regional Chamber of Commerce, Invest Aurora, Aurora Downtown, and the Quad County African American Chamber of Commerce—into a single entity focused on advancing economic development.
Together, SomerCor, the Alliance, and the Alliance Foundation, are focused on expanding economic opportunity throughout the greater Aurora region. By pairing SomerCor’s expertise in Small Business Administration (SBA) 504 lending and grant administration with the Alliance’s strong local presence and focus on inclusive growth, the partnership aims to empower entrepreneurs and small business owners with the resources and financing they need to succeed.
SBA 504 Loan Program Key to
New Made in America Manufacturing Initiative
| SomerCor President & CEO, Manny Flores, was on hand last month for the U.S. Small Business Administration Made in America Manufacturing Initiative road show in Peoria, IL. One of the goals of this SBA initiative is to reduce barriers to capital for manufacturers through the SBA 504 loan program – a zero-subsidy financing option for business owners to buy, build, and refinance fixed assets. It was a great opportunity to connect with local manufacturers and SBA leadership – including SBA Administrator, Kelly Loeffler, SBA Associate Administrator, Lisa Shimkat, SBA Acting Chief Counsel for the Office of Advocacy, Chip Bishop, SBA Great Lakes Regional Administrator, Everett Woodel, Jr., and SBA Illinois District Director, Willette LeGrant. Also, a special thanks to David Boulay and his team at IMEC Illinois for hosting and his continued partnership in supporting Illinois manufacturers! |
SomerCor Inaugural Charity Golf Outing
SomerCor is hosting its 1st Annual Charitable Golf Outing on July 28, 2025, at the Midlothian Country Club! This inaugural event will bring together commercial lenders, industry leaders, and community stakeholders for a day of golf, networking, and philanthropy.
Sponsorship opportunities are available now. A special thank you to Premier Title, Brown CPA Group, Ltd., Old National Bank, Wintrust, InBalance, Bespoke Commercial Real Estate, Pichón, and Cornerstone National Bank for their early support!
The outing will mark the launch of SomerCor’s participation in the National Association of Development Company’s (NADCO) VetLoan Advantage Program, a national initiative designed to support military veterans in starting or growing their businesses. Proceeds from the golf outing will be earmarked to support veteran entrepreneurs – helping to fund critical business expenses such as business advisory services, loan fee waivers, and down payment assistance on SBA 504 and Community Advantage Loans.
Thank you for your support and we look forward to seeing you on the course.
