December 2020 SBA 504 Rates Are Out!
The March 2021 SBA 504 debenture pricing
was competed on March 11, 2021.
25 Year Term 3.04%
20 Year Term 3.00%
10 Year Term 2.68%
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
Financing for Frontline Health Care Providers: Three Reasons to Use the SBA 504 Program
Illinois Business Interruption Grants Still Available for Your Small Business Clients
Health care providers in private practice wear many hats. In addition to being a critical part of our health care system, they are also small business owners.
The SBA 504 loan program is a great option for individual and group health care provider practices looking for more office or treatment space and the ability to personalize it to meet the highest level of patient care.
SomerCor is proud to support health care professionals through the SBA 504 loan and refinance programs. Click here to read about three ways the 504 provides access capital to build a stronger practice during COVID and beyond.
>Â Grant size ranges from $5,000-$150,000 based on business losses
> Eligible for-profit businesses are located in Illinois, less than $20 million gross operating revenue in 2019, experienced net operating loss and reduced revenues due to COVID-19
Applications are being accepted and evaluated on a rolling basis and businesses will receive a decision within four to six weeks of submission.
