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...
(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 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...
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 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...
