504 LOANS FINANCE

Current Interest Rates: 25-Year: 5.21% | 20-Year: 5.15% | 10-Year: 5.15% | Refi: 5.19%

KEY POINTS FOR LENDERS

The Lender’s Role in the 504

  • Provide the interim funding until the deed is recorded and set interim rate
  • Bank’s term must be at least 10-years with Growth Corp’s 20- and 25-year bonds.  And the bank’s term must be at least 7-years with Growth Corp’s 10-year bonds.
  • Bank gets first lien on all project assets
  • Advance is up to 95% of the appraised value on real estate (5% variance)
  • Size Standards:  a tangible net worth of less than $15 million and profits (after taxes) of less than $5 million (including affiliates)
  • Economic life of the asset to be financed needs to meet or exceed the loan term

SBA 504 LOANS

How Will You Help Your Clients?

877-BEST 504

www.GrowthCorp.com

Central IL Office 217.787.7557   |   Chicago Office 773.880.1455  |  Southern IL Office 618.932.3786

 

Contact a Loan Officer