March 2021 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.
SomerCor Celebrating
Women’s History Month
SBA Modified Guidance
on SBA 504 Program
Debra Morack has been with SomerCor for almost 13 years and oversees the closing department. Along with her team, she is responsible for navigating 504 deals through the critical final steps before funding. Debra has been working with small businesses for more than 24 years and is committed to providing borrowers and lending partners an outstanding customer experience.
“The closing process starts and ends with customer service,” said Morack. “It’s more than being responsive, I am invested with the borrower every step of the way. Every closing is rewarding, and I’m proud to play a part in helping our clients achieve the next level of small business ownership.”
The SBA and IRS updated guidance on key SBA 504 program enhancements that can serve in creating and enhancing business client relationships:
– Temporary fee eliminations
– Modification of CARES Act Payment
– Tax reporting requirements of CARES Act Payments
Learn more about how your clients can save with our sample term sheet.
