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SBA 504 Rates
SBA 504 March Effective Rate Falls to 5.76%
The 20-year 504 rates announced Today (3/16/2004)
are:
Effective Rate: 5.76%,
(1st 5 years): 5.64%
Note Rate: 4.41%
Debenture Rate: 4.34%
The 10-year 504 rates are:
Effective Rate: 5.02%,
Note Rate: 3.38%
Debenture Rate: 3.26%
| When to Suggest a 504 Loan |
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| 504 loans are beneficial in many instances, but some
situations present the greatest benefits
for borrowers. Consider a 504 loan when
a borrower needs a long-term fixed rate;
requires a smaller down payment; wants
to purchase a building in order to stop
paying rent; or specifically wishes
to purchase equipment for expansion.
Read
on... »
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| Secondary Market a Valuable Option |
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A 504 Loan first mortgage can be sold at a premium on
the secondary market in a manner similar
to other commercial mortgages.
· Reduces capital risk.
· Generates fee income.
· Increases lending capacity.
Full
Story »
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FFC EVENTS
Florida Finance Network Event in Seminole
April 12 |
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| The Florida Finance Network, an organization that unifies
Florida's economic development financing
programs, will present information on
the many Florida- based business financing
programs at Seminole Community College
April 12. For more information, contact
Michelle Paddock at 407-420-4865 or
michelle@ffcfc.com.
Florida
Finance Network Info. »
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SBA NEWS
504 Program Reauthorized |
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| President Bush yesterday signed into law new legislation
that reauthorizes the 504 loan program.
The program operates with no appropriated
dollars but does require statutory authority
to charge the fees to cover the cost
of the program.
Link
to SBA News Release »
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| Rates Plunge |
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| The effective rate for 504 loans plunged this month to
5.76%, the lowest rate since last June
and the second lowest in program history.
The 10-year effective rate, typically
used for equipment and machinery, also
dropped significantly, to 5.02%.
Find
out more....
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