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20-YR FIXED RATE
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504 loan program
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The forms below include an Application Checklist, meant to help you stay organized, as well as some of the initial forms our Loan Officers will need to analyze your business borrower and potential project. However, we encourage you to call or email a member of our Lending Team first so they can guide you through the process.
SBA Procedural Notices:
SBA 504 Refinancing
We’ve put together some information to help you guide borrowers through the recent changes to the 504 Refinancing Program. If at any time you have any questions, don’t hesitate to call or email a member of our Lending Team. We’d be happy to share what we know and help point you in the right direction.
In Fiscal Year 2022, more than 9,200 SBA 504 Loans were made to businesses nationwide, totaling $9.2 billion. Despite this incredible success, the 504 Loan Program remains under-utilized by lending organizations, possibly because of some erroneous misconceptions still...
Important 504 Loan Servicing Changes If you have an SBA 504 Loan, please take note of this important 504 Loan Servicing change regarding the ACH debit transactions for monthly SBA 504 loan payments. The File ID/Company ID associated with the ACH debit will be...
Questions About an Existing 504?
If you have questions/concerns about an existing 504 Loan, we’re here to help. Contact any member of our Servicing Team:
Servicing Main Line | 217-241-3000
Growth Corp is the top CDC in Illinois, the largest 504 Lender in Chicago and a top ten 504 Lender Nationwide, but we're still just a small, focused team working together every day to make the 504 process the best it can be.
We know that when it comes to 504 loans, it's about much more than just getting an approval. It's the ease-of-mind that comes from knowing Growth Corp's team has their finger on the pulse of the process from application to funding and even beyond into long-term servicing. It's knowing you will be informed every step of the way by the point-person responsible for overseeing the closing of your loan. It's knowing that, given Growth Corp's extremely low turn-over, you'll have the same experienced team members continuing to serve you year-after-year.
SBA recognized Growth Corp as an Accredited Lender after a thorough review of its policies, procedures and prior performance. The prestigious ALP status grants Growth Corp increased authority to process and close 504 loans, which results in an expedited process for both borrowers and lending partners. In addition, under the ALP Express Program, Growth Corp has been granted the authority to approve, authorize, close and service SBA 504 loans of $500,000 or less.
Quality, accuracy and quick turn-around times are just some of the reasons why Growth Corp is the top CDC in Illinois, the largest 504 Lender in Chicago and a top ten 504 Lender nationwide. But, remember, we're just a small team working together every day to make the 504 Loan process the best it can be.