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SBA 504 Rates
SBA 504 September Effective Rate Falls To 6.41%
The 20-year 504 rates announced Today (9/14/2004)
are:
Effective Rate: 6.41%,
(1st 5 years):
6.29%
Note Rate: 5.06%
Debenture Rate:
4.99%
The 10-year 504 rates are:
Effective Rate: 5.94%,
Note Rate: 4.32%
Debenture Rate: 4.17%
| 504 Secondary Market Flourishes |
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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. Using the secondary market,
lenders are able to provide long-term debt to existing
borrowers and receive premium fee income, without
risking their balance sheet.
Read on... »
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| FFC to Administer Emergency Loans in Central Florida |
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Florida First Capital will administer small business
emergency bridge loans for businesses affected by
Hurricane Charley in Osceola, Orange, Polk, Seminole
and Volusia counties. Though FFC is not the first point
of contact for applicants, the company is managing all
back-office aspects of the bridge loans to be used for
maintaining or restarting businesses impacted by the
storm.
Full Text... »
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SBA NEWS
Centralized 504 Processing Pays Off |
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The centralization of processing functions for the 504
Program, begun as a pilot 17 months ago in
Sacramento, is already paying off. The average SBA
processing time is now two days, and SBA has reduced
the total staff (from 70 to 15) and increased efficiency.
Link to SBA Press news release »
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| Disaster Loans Available For Charley, Frances Victims |
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Federal loans up to $1.5 million are available to
businesses of all sizes and non-profit organizations to
repair damage to real estate, machinery, equipment
and inventory. Economic Injury Disaster Loans (EIDLs)
are also available to small businesses unable to pay
bills or meet operating expenses.
Link to SBA Web site »
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| 504 Program Breaking Records |
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Through August, 504 loan program authorizations
nationwide were 26% ahead of last year, with more
than 6,900 loans authorized since last October - more
than ever before. Florida First Capital is up 67% over
last year in number of loans, and up 82% in total dollar
volume.
SBA news release
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