Small Business Saturday is November 30, 2019

This November 30th, you can be a part of the 10th annual holiday shopping tradition called Small Business Saturday that helps to bring communities together in support of their favorite small businesses. Are you ready to Shop Small® and make a big impact in your...

SBA 504 Loans for Veterans

The U.S. Small Business Administration (SBA) is dedicated to honoring the veterans that served in our country’s military and recognize the vast business potential they represent.  SBA 504 Loans for Veterans is just one of the many measures SBA has taken to help...

SBA 504 Loan Volume Up in FY 2019

Access to capital is consistently one of the top challenges entrepreneurs and small businesses encounter, making the SBA 504 Loan Program a vital resource to economic growth and job creation.  We’re happy to report SBA 504 Loan Volume was up in...

Lower Fees for SBA 504 Loans – Effective October 1, 2019

SBA has announced lower fees for the SBA 504 Loan Program during Fiscal Year 2020 that will become effective October 1, 2019.     Ongoing SBA Borrower Fee The Ongoing Borrower Fee for standard 504 loans is decreasing from 0.368% to 0.3205% of the outstanding...

Common Myths About SBA 504 Loans

Every year, the U.S. Small Business Administration (SBA) helps Americans secure billions of dollars in financing so they can start or grow a business. However, we still hear many common myths about SBA 504 loans. While some are harmless misunderstandings, others can...

Very Low SBA 504 Interest Rates

With the September 2019 debenture pricing, we are seeing very low interest rates for SBA 504 loans.  Also, SBA 504 effective rates are sharply lower than Prime Rate despite the Federal rate cut in July.  While no one knows where interest rates will go, the fiscal...

SBA 504 Loans Can Be Utilized Multiple Times

Many small business borrowers may wonder if it’s possible to get multiple SBA 504 loans. The answer is yes!  While sometimes viewed as a once-and-done funding tool, SBA 504 financing can actually be leveraged several times over, up to SBA’s lending limits.  This...

Impact Capital with SBA 504 Loans

For over 30 years, Growth Corp has been helping small businesses and communities grow.  We’re proud of the impact of SBA 504 Loans and the role we’ve had in helping businesses grow and create jobs.  Whether that’s in Chicago, the rural areas of...

The Growing Popularity of 25-Year Term SBA 504 Loans

SBA’s newest term option for SBA 504 Loans, the 25-year term, has seen tremendous growth in its first year. Almost a year ago (July ’18) we saw the first pooling of 25-year loans.  While no one knew what to expect at the onset, we’re pleased to...

John Maxfield Retired from Illinois National Bank

Long-time member of Growth Corp’s Loan Committee and Membership retired on April 30, 2019 Growth Corp would like to commemorate John Maxfield’s April 30, 2019, retirement from Illinois National Bank.  John had been an active member of Growth Corp’s Loan...