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Understanding SBA 504 Pre-Payment Penalties

The SBA 504 pre-payment penalties are often misunderstood by both borrowers and industry professionals.  A question we often get is:  “Are there pre-payment penalties with SBA 504 Loans”?  The answer is yes, but it’s not as bad as you might think....

Lower Fees for SBA 504 Loans in Fiscal Year 2024

New lower fees for SBA 504 loan in Fiscal Year 2024 apply to loans approved October 1, 2023, through September 30, 2024, and include a lower annual service fee and the continuation of  0% upfront guaranty fee.       SBA 504 Loans The SBA 504 Loan Program is...

Your Financial Plans Should Include 504 Refinancing

Did you know, it is estimated that $900B in CRE loans will come due by the end of 2024?!  With interest rates on the rise, and the prime rate currently sitting at 8.5%, your financial plans should include refinancing with the 504’s below-market, long-term fixed...

Debunking the Myths of SBA 504 Loans

In Fiscal Year 2022, more than 9,200 SBA 504 Loans were made to businesses nationwide, totaling $9.2 billion. Despite this incredible success, the 504 Loan Program remains under-utilized by lending organizations, possibly because of some erroneous misconceptions still...

Growth Corp – Illinois’ 504 Lender of the Year

(July 18, 2023) – Growth Corp was named Illinois’ 504 Lender of the Year by the U.S. Small Business Administration (SBA).  This prestigious award recognizes Growth Corp’s commitment to economic development and job creation through facilitation of the 504 Loan...

Small Business Financing Designed for Small Businesses? Yes!

Small business financing that was actually designed to meet the needs of small businesses?  Sound too good to be true?  It’s not!   The decision on when to expand and/or relocate your business is a difficult one.  Two of the most recognized hurdles you may...

Franchise Financing with SBA 504

If you want to jump into entrepreneurship, opening a franchise could be a good way to become a small business owner while take full advantage of the support and name recognition of an established brand.  And when it comes to financing a franchise, the Small Business...

SBA 504 Rates are Below Prime

SBA 504 Interest Rates are often below the Prime Interest Rate.  The average Prime Rate (August 1955 – Present) is 9.80%.  Today’s Prime Rate is 8.25%.  Conversely, today’s 25-Year Fixed SBA 504 Interest Rate is 6.02%.  While this is higher than the...

SBA Releases New Procedural Notices

The U.S. Small Business Administration (SBA) issued a series of new procedural notices this week, including SBA Information Notice 5000-847027 publishing the new SOP 50-10-7, “Lender and Development Company Loan Programs.”  SOP 50-10-7 will become effective August 1,...

Brokers, We Are Your Partner in Closing Deals

Brokers, when it comes to commercial real estate, we are your partner in closing deals!  We’ve specialized in owner-occupied commercial real estate financing for 35 years. Growth Corp’s Lending Team has worked with thousands of businesses spanning every...