May SBA 504 Rates

Note: 10-year 504 loan fundings occur on an every other month basis. The above rate reflects the 10-year 504 rate for the May, 2024 funding.
The above rates are based on loans approved during FY 2024 ending on 9.30.2024.

Refinance High Rate Loans

The 504 Refinance Program is essential for business owners during economic uncertainties, leveraging a similar structure to traditional 504 loans where a commercial lender and a CDC combine to split the required financing. Often, SBA 504 Refinance projects can leverage existing assets of the business and require $0 cash down. Here are the key points:

Financial Advantages:
- Fixed interest rates that are typically significantly lower than SBA 7(a) and conventional loan rates.
- Loan terms from 10 to 25 years enhance payment predictability and reduce monthly expenses.
- Allows consolidation of high-interest debts into more manageable payments.

Access to Cash:
- Owners can access up to 20% of their property’s appraised value in cash for business expenses, capped at 85% combined loan-to-value, to provide working capital for the business.

Eligibility and Application:
- Requires at least two years of operational history and a six-month gap from the last loan disbursement.
- Business owners and lenders should consult with a CDC to ensure program eligibility and compliance.

The 504 Refinance Program offers a strategic opportunity for business growth and financial stability, presenting significant advantages for business owners and commercial lenders.

Contact a TCM Loan Officer today-

Debby Gustafson 651.302.7234
Sheil Nelson 651.302.7226
Mike Kinderman 651.302.7239
Michael Kinninger 651.302.7240

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Questions about a potential 504 loan?

Our lending staff can be reached at their direct numbers listed below-

Debby Gustafson 651.302.7234 debby.gustafson@tcmcdc.com
Angie Way 651.302.7228 angie.way@tcmcdc.com

Sheil Nelson 651.302.7226 sheil.nelson@tcmcdc.com
Rachel Edgar 651.302.7225 rachel.edgar@tcmcdc.com

Mike Kinderman 651.302.7239 mike.kinderman@tcmcdc.com
Samantha Horab 651.302.7232 samantha.horab@tcmcdc.com
Michael Steck 651.302.7233 michael.steck@tcmcdc.com

Michael Kinninger 651.302.7240 michael.kinninger@tcmcdc.com
Heidi Pautsch 651.302.7227 heidi.pautsch@tcmcdc.com

To reach our main office, please call 651.481.8081 or toll-free at 1.888.481.4504.

About Us
TCM has been a leader in SBA 504 financing since its inception in 1990. TCM provides SBA 504 lending throughout the state of Minnesota and select counties in Wisconsin including Polk, Barron, St. Croix, Dunn, Pierce, Pepin, Buffalo, Treapealeau, and LaCrosse. For more information about TCM and the SBA 504 financing tool, visit www.504lending.com.