SBA has announced fee changes for the SBA 504 Loan Program during Fiscal Year 2019 that will become effective October 1, 2018. Upfront Guaranty Fee This fee is increasing from zero to .50% for both standard and refinance 504 loans. This fee will be included...
Growth Corp has been named Illinois’ 504 Lender of the Year by SBA. This prestigious award represents Growth Corp’s continued support and extraordinary contribution to the small business community. Douglas Kinley, President of Growth Corp, and Joel Herscher, Vice...
Small business owners can use the long-term, fixed rate 504 Loan Program to refinance existing commercial mortgages. This is huge considering the current trends are pointing toward tighter credit standards and higher interest rates. SBA 504 Refinance Program...
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...
America has over 30 million small business owners. These innovative entrepreneurs are the engine of job creation and economic growth in our country. The U.S. Small Business Administration (SBA) ensures these businesses have the tools and resources necessary for...
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...
