As you’ve probably heard, interest rates are rising…in fact, many global investment banks are predicting a strong run of interest hikes in 2022. The Fed is preparing to exit from a couple of years of massive quantitative easing and near-zero policy rates, at a...
When interest rates are rising, the cost of capital inches higher for all small businesses, but especially those who need to purchase new properties. Shortly after the start of the COVID-19 Pandemic, interest rates dropped to historic lows. But now that’s changing. ...
With the new year almost upon us, it’s time to think about seizing new opportunities to grow your business in the months to come. That’s why the U.S. Small Business Administration (SBA) developed the 504 Loan Program…to offer business owners a more affordable and...
As a proud host, Growth Corp wholeheartedly commits to helping the Illinois Small Business Development Center for Central Illinois expand its services to disadvantaged businesses, increasing its community outreach–especially to the surrounding areas, retaining...
This November 27th, you can be a part of the 12th annual holiday shopping tradition called Small Business Saturday that helps to bring communities together in support of their favorite small businesses. Are you ready to Shop Small® and make a big impact in your...
There are many factors impacting SBA lending right now and SBA’s role has grown even more important in the past 18 months, having been charged with distributing various recovery resources aimed at helping small businesses strengthen, recover, hire, and grow. This...
The purpose of all SBA loan programs is to provide businesses like yours with access to funding under reasonable terms…but the 504 loan terms were specifically designed to help grow and strengthen small businesses. To accomplish this, they extend financing with...
October is Manufacturing Month, which offers the chance for us to celebrate and highlight the manufacturing industry’s many contributions to the state and nation. According to the Illinois Manufacturers’ Association, “The manufacturing industry is a powerhouse in our...
Good news! SBA 504 loans approved October 1, 2021, through September 30, 2022, will see lower fees. The reduction in fees equates to about a 20 basis point lower interest rate. So, with rates still low, and new lower fees, let’s dive into who qualifies for a...
The 504 Loan Program’s volume is surging nationwide, with more than 9,000 loans made, for a total dollar amount of more than $7.9 billion. This begs the question…why is this small business loan program continuing to show double-digit, year-over-year growth? Created...
