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Current Fixed Interest Rates

Refinancing:  add +0.0115% to any of the rates above












If you need a small business loan

You’ve come to the right place.

The 504 Loan Program is one of the best financing solutions on the market.  It provides small business owners with financing for the purchase, construction and renovation of commercial real estate and/or the purchase of long-term machinery and equipment. The best part?  Borrowers typically receive financing for up to 90% of the project cost at a low fixed interest rate, which is then locked in for 20- or 25-years (10 for equipment).  Plus, with the 504 Refinance Program, small business owners can use the long-term, fixed rate 504 Loan Program to refinance existing commercial mortgages.  

Growth Corp is authorized by the U.S. Small Business Administration to administer the 504 Loan Program to the entire state of Illinois and parts of Missouri, Indiana, Iowa and Kentucky.  We are the largest 504 Lender in Chicago, the top CDC in Illinois and a top ten lender nationwide.  So, if you’re located in Chicago, St. Louis, Peoria, Bloomington, Carbondale, the Quad Cities or anywhere in between, turn to the 504 experts to help you grow.

The SBA 504 Loan Program was specifically created for growing businesses.

So far this year, more than 8,000 SBA 504 Loans have been made to small businesses, totaling $7.5 billion.

Why SBA 504 loans are so popular:

Low, Fixed Interest Rates

With the 504, borrowers take advantage of a low interest rate, which is fixed for either 10-, 20- or 25-years.

10% Down Payment

In most cases, borrowers receive a 90% advance, which preserves working capital for day-to-day business expenses.

Keep Your Current Lender

The 504 Loan Program requires a partnership between Growth Corp and a lending institution, so there’s no need to give up that lending relationship you’ve grown comfortable with.

No Future Balloon Payments

With the 504, borrowers do not have to concern themselves with saving the large amount of cash necessary for a balloon payment.  This eliminates the need for refinancing, additional appraisals and deterioration in property values.

Includes Soft Costs

The 504 finances total project costs, including not just the costs for land, existing building, hard construction and equipment, but also soft costs like furniture, fixtures, closing costs and professional fees.

Predictable Monthly Payments

Borrowers lock in a low fixed interest rate, which gives them predictable payments and allows them to easily forecast for future years.  So there’s no inflationary pressures and interest rate increases to worry about.

Estimate your monthly 504 loan payment.

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What's New?

Long Awaited Debt Refinance Enhancements are Here

What you need to know about the new SBA 504 Refinance Program:

More businesses are eligible:

  • The loan to be refinanced only needs to have been in place for 6 months, rather than 2 years
  • Allows the 504 Program to refinance government-guaranteed debt
  • must provide a substantial benefit to the borrower, meaning a minimum 10% savings on the new installment attributable to the debt being refinanced
  • If a 7(a) loan – requires the CDC to verify in writing that the present lender is either unwilling or unable to modify the current payment schedule
  • If a 504 loan – the Third Party Lender Loan and the 504 must be refinanced, or the Third Party Loan must be paid in full.
  • Allows existing jobs (measured on a full-time equivalent basis) to be counted as jobs retained by the refinancing project
  • For 504 refinancing with expansion, the cap on the amount of existing debt eligible increased from 50% of expansion costs to 100% of expansion costs 
  • For additional details, please refer to SBA Policy Notice 5000-808830

Our mission is to advocate for small businesses.

We love our communities and believe small business is the foundation of their economic prosperity.  We will do all we can to support you and your business goals.  Start-ups to seasoned businesses and everything in between can benefit from working with Growth Corp.  Here’s why:

We Are An Industry Leader

We’re the #1 SBA 504 Lender in Chicago and Illinois.  Growth Corp also consistently ranks as one of the top ten SBA 504 Lenders nationwide.

In Business Since 1992

We’ve assisted thousands of businesses spanning various industries.  In fact, our portfolio is currently in excess of $730 million.

Trusted by the U.S. SBA

SBA recognized Growth Corp as an Accredited Lender after a thorough review of its policies, procedures and prior performance.


How Will You Grow Your Business?

877-BEST 504


A Non-Profit Organization Focused Exclusively on Small Businesses

By using this website, you understand that Growth Corp is good, but not perfect (although we do try!). Therefore, it is possible that you may find information on this site that is no longer accurate.  Links, images, downloads, pages and blog posts may inadvertently contain information that has been superseded over the years.  You also understand that we aren’t giving any legal, tax, or financial advice.  So, while we hope our site makes you love 504 Loans as much as we do, the content herein is for informational purposes only.