The rate is fixed for the term of the loan at the time of the 504 loan funding. The rates are market-determined. The 20 & 25-year loans are typically priced at the 10-year Treasury rate plus a spread of 2.5% to 3%. The 10-year loans are typically priced at the 5-year Treasury plus 3% to 3.5%. Scroll to the bottom of this page for current rates.