The March 2023 SBA 504 debenture pricing was competed on March 9, 2023.

25 Year Term 6.33%

20 Year Term 6.33%

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 FY23 fees. SBA 504 refi rates are approximately 2 basis points higher than debenture pricing noted above.

In honor of Women’s History Month, SomerCor is proud to spotlight R&J Trucking and Recycling. Started in 2009, R&J is a minority woman-owned company that has grown into a family business with employees spanning two generations. The company worked with SomerCor on an SBA 504 loan to purchase a 197,000 square foot building to serve as both a warehouse and office space. The monthly mortgage on their new location is 30% lower than what they paid in rent – leading to more than $75,000 in annual savings.