The September 2022 rates for SBA 504 Loans are higher than they were last month, a trend consistent with recent federal interest rate hikes. SBA 504 rates and the 10-Year Treasury have followed a similar track historically. Therefore, given that the 10-year treasury...
New SBA 504 loan fees apply to loans approved October 1, 2022, through September 30, 2023, and include a lower upfront guaranty fee, but a slightly higher annual service fee. SBA 504 Loans The SBA 504 Loan Program is designed to help business owners be...
Most know that the #SBA504 program can finance equipment projects (typically 10-year debenture) and/or real estate projects (typically 20- or 25-year debentures). However, did you know that equipment can be included in a 20- or 25-year real estate project? When the...
Lower interest rates this month! Remember…key benefits of the SBA 504 Loan Program are: no rate adjustments, no increased loan payments, no surprises. Just a predictable payment schedule for the life of the commercial loan!
Don’t let an appraisal shortfall derail your deal! Newly implemented rules allow for up to a 10% shortfall in appraised value for SBA 504 Loans! NEW SBA APPRAISAL RULES On July 29, 2022, SBA released SBA_Proc_Notice_5000-835230 revising procedures relating to...
As an ALP Express Lender, effective immediately, Growth Corp can provide expedited processing for 504 Loans of $500 thousand or less! What is ALP Express? The ALP Express Program is a new loan program that provides delegated authority for ALP CDCs, such as Growth...
Are you a small business owner facing uncertainty because of ongoing rent increases? Small businesses renting their commercial space in Illinois, particularly the Greater Chicago area, are in one of the most expensive markets in the country. If you’re the owner of...
Let’s face it, financing the purchase of a medical office building can be a daunting task. Because of the high cost of building improvements (customized plumbing, construction of exam rooms, lead walls for x-ray or surgery units, etc.) and the...
Are you stuck spending more time working IN your business than ON your business? You may be ready to T.H.R.I.V.E. with the SBA! The U.S. Small Business Administration’s T.H.R.I.V.E. Emerging Leaders Reimagined is a 6-month intensive training program that helps...
Entrepreneurs in Central Illinois now have expanded resources available to them thanks to a partnership between Small Business Growth Corporation (Growth Corp) and the Illinois Small Business Development Center (SBDC) for Central Illinois. Local Certified Development...
