Attached is an updated version of February SBA Lender Update. Please note: Only 504 rates are different.
February SBA Lenders Update
Highlights:
SBA 504 February Rate: 6.28%
The 20-year 504 Rates for
February (announced: 2/11/03) are:
Effective Rate: 6.28%, (1st 5 years: 6.15%)
Note Rate: 4.91%
Debenture Rate: 4.84%
20-Year Rates Effective February 11, 2003 – March 11, 2003
The 10-year 504 Rates are:
Effective Rate: 5.63%.
Note Rate: 3.98%
Debenture Rate: 3.84%
10-Year Rates Effective January 11, 2003
– March 11, 2003
504
Borrower Fee to Drop
President Bush’s proposed fiscal year 2004 budget lowers the 504
program borrower fee by nearly 8%. Full Text.
Barreto: SBA to
Strengthen 504 Program
SBA Administrator Hector V. Barreto recently said that SBA is looking for
ways to increase the number of 504 loans and improve the program. Full text.
Senate Proposes
Adding Funds to 7(a); Cap Still In Place
The Senate recently proposed adding $1.2 billion to the 7(a) program by reinvesting
unused money from the Supplementary Terrorist Activity Relief (STAR) fund
offered through SBA. The House is expected to follow suit but the $500,000
7(a) loan cap remains in place. Full text.
Bush SBA Budget
Proposes $4.5 Billion for 504 Loans
President Bush’s SBA Budget proposes a loan level for 504 loans of $4.5
billion for FY 2004. The total budget offers nearly $21 billion in support
for small business financing, as well as increased funding for initiatives
that will make the agency more customer-focused. Full text.
SBA News
Businesses Affected by
Military Call Ups Can Get Online Assistance
Small businesses owners or small businesses with essential employees who have
been or can be called to active duty by the Reserve or National can get online
assistance through a new Web page developed by the U.S. Small Business
Administration Office of Veterans Business Development. Link to SBA News Release
Florida First Capital, the State of Florida's Certified Development
Company, provides financial assistance to small businesses in conjunction
with the U.S. Small Business Administration and private sector lenders. From Pensacola to Key West, Florida First Capital provides new and
growing businesses with long-term, fixed-rate financing for major fixed
assets, such as real estate and equipment. For more information visit our
website at ffcfc.com or call us at
1-888-320-5504 or email us at: info@ffcfc.com
To be removed from this e-mail distribution list, reply to this e-mail with
“remove” in the subject line.