SBA 504 LOANS

COMMERCIAL REAL ESTATE  |  EQUIPMENT  |  REFINANCE

 

Current Rates: 25-Year: 3.74% | 20-Year: 3.68% | 10-Year: 3.85% | Refi: +0.0015%

Interest Rate History

empowering economic growth

WHO USES THE 504?

Typical 504 Borrowers

Medical/Professional Retail/Service Industrial Special-Use
Doctor’s Office Restaurants Recycling Facilities Bowling Alleys
Veterinarian Offices Retail Stores Food Manufacturing Funeral Homes
Dentists Health Clubs Steel Production Car Washes
Attorneys Day Care Providers Packaging Companies Assisted Living
Accountants Pet Care Services Commercial Printers Grain Elevators
Chiropractors Farmers Markets Machine Shops Livestock Feedlots
Architects Boutiques Freight & Transport Mini-Storage
Graphic Designers Auto Repair Shops Wholesalers Sports Arenas
Physical Therapists Convenience Stores Mass Production Tennis Clubs

Why SBA 504 loans are so popular:

Low, Fixed Interest Rates

With the 504, borrowers take advantage of a low interest rate, which is fixed for either 10-, 20- or 25-years.

10% Down Payment

In most cases, borrowers receive a 90% advance, which preserves working capital for day-to-day business expenses.

Includes Soft Costs

The 504 finances total project costs, including not just the costs for land, existing building, hard construction and equipment, but also soft costs like furniture, fixtures, closing costs and professional fees.

No Future Balloon Payments

With the 504, borrowers do not have to concern themselves with saving the large amount of cash necessary for a balloon payment.  This eliminates the need for refinancing, additional appraisals and deterioration in property values.

Predictable Monthly Payments

Borrowers lock in a low fixed interest rate, which gives them predictable payments and allows them to easily forecast for future years.  So there’s no inflationary pressures and interest rate increases to worry about.

Keep Your Current Lender

The 504 Loan Program requires a partnership between Growth Corp and a lending institution, so there’s no need to give up that lending relationship you’ve grown comfortable with.

EXAMPLES OF RECENTLY FUNDED PROJECTS:

INDUSTRY TOTAL PROJECT COSTS USE OF PROCEEDS
Manufacturing $17.7 Million Refinance and Equipment Purchase
Transportation $10.6 Million Building Purchase with Renovations
Wholesale Trade $13.4 Million Land Purchase & Ground-Up Construction
Therapy $180,000 Building Purchase
Education $250,000 Building Purchase with Renovations
Brewery $410,000 Equipment Purchase

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 provides expedited processing of loan approvals and closings.

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.

SBA 504 LOANS

How Will You Grow Your Business?

877-BEST 504

www.GrowthCorp.com

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

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