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Current Interest Rates: 25-Year: 4.99% | 20-Year: 4.92% | 10-Year: 5.18% | Refi: 4.96%

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 re-launch of the Refinance Program, small business owners can use the long-term, fixed rate 504 Loan Program to refinance existing commercial mortgages.  

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.

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.

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.

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.

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.

How SBA 504 Loans Work



Local Bank

A bank provides a first mortgage for 
50% of the total project costs


SBA 504 Loan

Growth Corp provides an SBA 504 Loan (as a second mortgage) for 40% of the total project



The borrower provides a down payment of typically just 10% of the total project costs

Higher equity requirements exist for start-ups or special purpose properties…the equity required will increase by 5% if one condition exists or by 10% if both.

SBA 504 Loans are made in conjunction with your local you can keep your lending relationship.


What's New?

25-Year Debentures Now Available with SBA 504

In addition to the 10-year and 20-year maturities available with 504 loans, SBA is now offering a 25-year option.  The goal of this extended maturity is to decrease the monthly payments for those small businesses looking to better manage their operating capital.



Let's Get Started!


I am a Potential Borrower

Are you looking to expand your small business by purchasing a new property, buying equipment or adding a second location? Do you also want to lock in your interest rate and minimize your down payment requirements?

I am a Lender

Are you a commercial lender facing tighter lending standards?  Do you need to reduce your bank’s exposure to close a deal?  Or, are you wanting to offer a long-term fixed rate and lower down payment option to your borrower?

I am a Current Borrower

Do you currently have a 504 loan with us?  Are you looking for assistance with your loan or do you need to modify an account?  Or, are you ready to expand your business again by purchasing property or adding new equipment?

Estimate your monthly 504 loan payment.

Or, Use One of Our Other Tools

504 Loan Application

Get the 504 Loan Application process started by downloading our application checklist along with the necessary forms.

504 vs 7(a)

Maximize the 504 and 7(a) Loan Programs by using them both for the purpose they were intended.

Interest Rate History

A look back at the 20-year, 10-year and debt refinance monthly 504 Interest Rates.  Plus, the new 25-yr rate.

Quick Qualifiers

Not sure if the 504 is for you?  Answer four simple questions to see if you qualify for the 504 Loan Program.

Let’s keep in touch…join our email list…

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 $675 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

Central IL Office 217.787.7557   |   Chicago Office 773.880.1455  |  Southern IL Office 618.932.3786

Contact a Loan Officer