Profile cover photo
Profile photo
Growth Corp
1 follower
1 follower

Post has attachment
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.

Check out these fiscal year-end statistics for the 504 Loan Program nationwide:

▪ 5,938 SBA 504 loans in FY2016 for $4,740,082,000

▪ 10.3% increase in 504 approval dollars from FY2015

▪ 2.6% increase in number of 504 loans from FY2015

Hats off to the number of 504 loans and expansion dollars getting into the hands of small businesses in FY2016!

Lower Fees Begin October 1, 2016! Each year SBA reviews certain fees associated with its loan programs to determine if any of those fees need to be adjusted to cover the estimated subsidy costs. We’re happy to report that on September 26, 2016, SBA issued SBA Information Notice 5000-1389, announcing lower fees for 504 loans approved on or after October 1, 2016! The upfront guaranty fee that SBA is authorized to charge 504 borrowers will continue to be zero. However, the annual service fee has been reduced from 0.914% to 0.697%. This can potentially save borrowers thousands of dollars.
Wait while more posts are being loaded