January SBA Lenders Update Highlights:
SBA 504 January Rate: 6.34%
The 20-year 504 Rates for
January (announced: 1/14/03) are:
Effective Rate: 6.34%, (1st 5 years: 6.22%)
Note Rate: 4.97%
Debenture Rate: 4.90%
20-Year Rates Effective January 14, 2003 – February 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 14, 2003
– March 11, 2003
10-Year Rates Hit
All-Time Low; Unbeatable Loans to Finance Equipment
Effective rates for 10-year 504 loans hit an all-time low this month,
offering an excellent opportunity for businesses in need of long-term
financing for equipment. Typical 504 loans for real estate carry a 20-year
term while our 10-year loans are popular for purchasing equipment. Full Text.
Senate Approves
Bill For 7(a) Program
The Senate passed a bill Friday that authorizes the Office of Management and
Budget (OMB) to adopt the new econometric model for calculating the
program’s subsidy rate. The bill has been sent to the house for
approval. Full
Text.
SBA Urged
to Tighten 7(a) Lender Oversight
A new report from the General Account Office urges SBA to improve its
oversight of private-sector preferred lenders. Currently, SBA performs only a
“cursory” review of its preferred lenders. Those reviews
“do not provide adequate assurance that lenders are sufficiently
assessing eligibility and creditworthiness of borrowers,” the report
states. Full
Text.
SBA News
SBA Seeks Input on
Improving 504 Program
SBA is considering ways to improve coverage of the 504 loan program to ensure
that all small businesses have access to long-term, fixed-rate financing.
After a review of public comments, SBA will consider proposing amendments
that will improve overall program management. Full Text.
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
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