How Are SBA 504 Interest Rates Determined?

To understand how SBA 504 interest rates are determined and why they can provide borrowers with tremendous savings, it’s helpful to understand the three-part structure of 504 loans. 504 Loans typically offer 90% financing, with some variances for start-ups or...

New 25-Year SBA 504 Loans

There is a new member of the SBA 504 loan family.  To better meet some borrowers’ needs, a 25-year loan term option became available April 2, 2018, which is in addition to the 10-year and 20-year loan options already offered.  SBA’s recent announcement of a 25-year...

Free Lender Forums Offered by SBA and SBDC

SBA is teaming up with Small Business Development Centers throughout Illinois on a series of free forums to update commercial lenders on agency programs and services. Topics will include SOP 50 10 changes, new franchise review processes, new equity injection...

What’s New with SBA 504 – SOP Changes for 2018

Every year SBA issues updates to its SOP, the standard operating procedures for its lending programs, including the SBA 504.  Some of the most notable changes that became effective on January 1, 2018, include:   Borrower Contribution The updated typical 504 project...

Illinois Small Business Loans

Are you looking for an Illinois small business loan?  You’ve come to the right place. Founded in 1992, Growth Corp is the largest provider of SBA 504 commercial real estate financing in Illinois.  Growth Corp is a non-profit development company certified by the...

An Under-Utilized Source of Capital?

While once an under-utilized source of capital, a.k.a. “the best kept secret in commercial financing”, entrepreneurs are discovering SBA 504 loans are a way to level the playing field when financing an expansion of their business.   Many Are Unfamiliar With One of...

Construction Loans – SBA 504 Loan Program

Are you in the market for commercial construction loans?   Maybe your business has grown and it’s time to move into your own building.  Maybe you’ve even looked at commercial real estate for sale or lease, but you just haven’t found what you’re looking for.  The...