January 2024 SBA 504 Interest Rates
The May 2024 SBA 504 debenture pricing was competed on January 11, 2024.
25 Year Term 6.36%
20 Year Term 6.42%
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 FY24 fees. SBA 504 refi rates are approximately 3 basis points higher than debenture pricing noted above.
The SBA 504 loan program is one of the most popular financing programs offered by the Small Business Administration (SBA). When working with a small business client applying for a 504 loan, we highlight key best practices to help get a deal across the finish line efficiently. Check out this recent Daily Herald article by SomerCor Senior Vice President, Lis Williams, providing three helpful tips to potential small business borrowers.
Manufacturers face both increased labor challenges and avenues for growth. The purchase of new equipment is a pathway for manufacturers to address workforce shortages and take advantage of new opportunities.
SomerCor is a proud member of the Technology & Manufacturing Association and partners with small and mid-sized manufacturers to finance the purchase of equipment and heavy machinery with the SBA 504 loan program. Learn more about how the 504 program can help your manufacturing clients diversify operations, increase efficiency, and offset energy costs with new equipment.
