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...
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...
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...
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...
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...
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...
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...
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...
Growth Corp has been named Illinois’ 504 Lender of the Year by the U.S. Small Business Administration (SBA). This prestigious award represents Growth Corp’s continued support and extraordinary contribution to the small business community. Sara Vanhala accepted the...
In celebration of Small Business Week, the Small Business Week of Eastern Missouri committee recognized outstanding efforts made by top SBA Lenders. Growth Corp was honored to be recognized as one of the top 504 Lenders in Eastern Missouri. This awards ceremony was...
