The purpose of all SBA loan programs is to provide businesses like yours with access to funding under reasonable terms…but the 504 loan terms were specifically designed to help grow and strengthen small businesses. To accomplish this, they extend financing with...
October is Manufacturing Month, which offers the chance for us to celebrate and highlight the manufacturing industry’s many contributions to the state and nation. According to the Illinois Manufacturers’ Association, “The manufacturing industry is a powerhouse in our...
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...
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...
The SBA and its loan programs have always played a crucial role in the strength and advancement of our small business sector and in fostering economic growth. During the COVID-19 pandemic, SBA also demonstrated a quick and massive implementation of initiatives aimed...
The U.S. Small Business Administration’s (SBA) 504 Loan Program was designed for businesses to invest in commercial real estate…whether that be purchasing real estate, buying or constructing buildings, and/or modernizing facilities. With below-prime rates...
Those who have investigated the U.S. Small Business Administration’s (SBA) 504 financing options have probably seen a reference to a Certified Development Company (CDC), but they may not be fully aware of what a CDC is or what role they play in the SBA...
For years, small businesses looking to grow and expand their operations have found a powerful and supportive ally in the Small Business Administration (SBA). Its SBA 504 loan program is designed to meet the needs of small businesses by providing access to attractively...
