The July 2022 SBA 504 debenture pricing was competed on July 7, 2022.
25 Year Term 5.11%
20 Year Term 5.05%
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 FY22 fees. SBA 504 refi rates are approximately 3 basis points higher than debenture pricing noted above.
SomerCor is an Accredited Lender Program (ALP) Certified Development Company (CDC). ALP status is a prestigious designation granted by the Small Business Administration (SBA) to high performing, non-profit SBA 504 lending companies. CDCs with ALP designation are granted increased authority, resulting in an expedited lending experience for borrowers and lending partners. In addition, as an ALP lender, SomerCor is able to participate in select SBA initiatives limited to only the top CDC’s.
For over 80 years, Helander has been a major partner to a variety of Fortune 500 companies and small businesses, providing them with metal forming and fabricating services. Helander has partnered with SomerCor on three currently funded SBA 504 loans, covering commercial real estate and equipment, and another two waiting to close for additional CRE and equipment. In terms of total project size for all five loans, this amounts to over $15 million in financing!
