November 2023 SBA 504 Interest Rates
The November 2023 SBA 504 debenture pricing was competed on November 9, 2023.
25 Year Term 7.02%
20 Year Term 7.02%
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.
SomerCor is proud to announce it has been granted Local Economic Area (LEA) expansion authority by the U.S. Small Business Administration to lend in Jasper, Lake, Newton, and Porter counties in Indiana! This milestone comes just one year after receiving authority to lend in Southeast Wisconsin. With our service footprint growing, our team looks forward to supporting small businesses in Northwest Indiana through the SBA 504 program with our lending partners.
Last month the SBA published its Final Rule for the SBA 504 Debt Refinance program. Effective November 13th, the rule updates will make it easier for more small business borrowers to benefit from the 504 refi.
The SBA 504 refi is a strategic debt restructuring solution that offers your customers lower interest rates and access to equity, while reducing bank credit exposure through the lower LTV. It’s a win-win for banks and borrowers, especially during times of economic uncertainty.
