Good news! SBA 504 loans approved October 1, 2021, through September 30, 2022, will see lower fees. The reduction in fees equates to about a 20 basis point lower interest rate. So, with rates still low, and new lower fees, let’s dive into who qualifies for a...
The 504 Loan Program’s volume is surging nationwide, with more than 9,000 loans made, for a total dollar amount of more than $7.9 billion. This begs the question…why is this small business loan program continuing to show double-digit, year-over-year growth? Created...
The new SBA 504 Refinance offers big benefits and more small businesses may be eligible. The biggest changes were a reduction in the age of the debt to be refinanced and the ability to refinance existing loans with government-guarantees (i.e. existing 7(a) or 504...
August 18, 2021 – As part of Governor JB Pritzker’s overall economic recovery strategy, the $250 million Back 2 Business (B2B) grant program aims to deploy small businesses recovery grants for those hit hardest by the COVID-19 pandemic. The B2B grant program builds on...
Today (July 29, 2021), SBA published the new interim final rule for 504 debt refinancing programs as authorized under section 328 of the Economic Aid Act. The interim final rule is effective immediately on July 29, 2021. Section 328(a) of the Economic Aid Act revises...
