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% of Total
SBA 504 Loan
The above estimated structure is based on 90% financing. The actual amount of financing available will vary based on the project type, the applicant’s credit quality and based on the lesser of project cost and appraised value.
Bank interest rates are estimates and may be fixed or variable. The bank loan amortization is typically 20 to 25 years and may carry a shorter term or due date. Bank loan fees vary. You can negotiate rates and terms with your bank, provided they use at least a 10 year maturity.
The 504 rate is estimated based on current rates. The final rate is set at the time of loan funding. 504 rates are fixed for 20 years, typically at the 10-year Treasury rate plus 2 1/2 to 3%. 504 fees* are to 2.65% of the 504 loan amount plus $2300 and are financed with the project. 504 loans are fully amortizing loan with no balloon payments. 504 loans have a formula prepayment penalty in their first ten years.
* Notes about fees
- CDC Processing Fees totaling 1.5% are eliminated on loans approved between 12/27/2020 and 9/30/2021. This reduces the overall fees temporarily from 2.65% to 1.15%.
- Third-Party Lender Fee (1/2%) paid on the bank’s loan is also eliminated for loans approved between 12/27/2020 and 9/30/2021.