October’s 504 Interest Rates are at historic lows…under 4% AND fixed for 20 years! If you’ve been considering expanding your business, there’s no better time.
The 504 Loan Program is one of the best financing solutions on the market. It provides small business owners with financing for the purchase, construction and renovation of commercial real estate and/or the purchase of long-term machinery and equipment. The best part? Borrowers typically receive financing for up to 90% of the project cost at a low fixed interest rate, which is then locked in for twenty years (10 for equipment). Plus, with the re-launch of the 504 Refinance Program, small business owners can use the long-term, fixed rate 504 Loan Program to refinance existing commercial mortgages.
Benefits of the 504 Loan Program:
- Low down payment (10% in most cases)
- Low, fixed interest rate on 504
- Long loan term
- Includes soft costs such as furniture, fixtures and fees
- Payment stability
- Preserves working capital
- Protection from balloon payments
- Can include leasehold improvements
- Up to $5 million for SBA portion of the loan, no limit on overall project size
- Keep your lender or allow us to match you with one of our lending partners
- The 504 Loan Program can be used multiple times