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SBA 504 Loan Interest Rates
May 2024
25-Year Fixed Rate Standard:
6.555%
25-Year Fixed Rate Refinance:
6.584%
20-Year Fixed Rate Standard:
6.656%
20-Year Fixed Rate Refinance:
6.748%
10-Year Fixed Rate Standard:
6.908%
10-Year Fixed Rate Refinance:
6.944%
Official monthly SBA 504 effective interest rate tables can be found at Eagle Compliance LLC. 25- and 20-year term loans fund every month; 10-year term loans fund every other month. Effective interest rates are inclusive of servicing fees, which are subject to credit risk of the applicant.
Small businesses looking to grow and expand their operations through the purchase of commercial real estate and “go green” can benefit the environment and their bottom line with up to 90% fixed interest rate financing under the SBA’s 504 Green Loan Program offered through Florida First Capital/First Capital Finance.
Business owners who qualify for SBA 504 financing may be eligible for multiple SBA 2nd mortgages of up to $5.5 million per 504 green friendly project; however, the outstanding gross debentures issued for a small business concern, including its affiliates, must not exceed $16.5 million in the aggregate. These amounts are NOT reduced by any other outstanding SBA financing (7a, Community Advantage, regular 504).
Additionally, there is no limit on the amount of the 1st mortgage of a 504 project and therefore no maximum project size. In many cases, qualified borrowers with projects exceeding $20 million can still obtain up to 90% financing.
The following green initiatives are eligible for up to $5.5 million per project of SBA 504 financing provided they meet the following requirements:
NOTE: Sustainable Design (LEED) Certification qualifies as a general SBA Public Policy Goal only (up to $5 million aggregate limit per borrower) and does not meet the SBA’s Green Public Policy Goal of up to $5.5 million per project.
NOTE: 504 loan proceeds may not be used to finance working capital. Please see the Rebuild Florida Business Loan Fund.
Purchase, construct, expand or renovate owner-occupied commercial real estate at up to 90% financing.
Acquire and install long-life fixed machinery and equipment at up to 90% financing.
Refinance commercial mortgage and other business debt up to 90% with or without a cash-out option.
Go green with your project and qualify for additional financing at up to 90%.
Interim phase second mortgage "bridge" financing for our 504 commercial lending partners.
A resiliency working capital loan fund to help Florida’s small businesses and its economy to grow and prosper.
Low cost loans to support industrial recycling throughout the state of Florida.
Connect with Network members to unlock vital capital resources to help meet your specific business financing needs.