| 504 Rates Hit All-Time Historic Low
In addition to financing the purchase or expansion of commercial real estate, 504 loans may also be used to refinance conventional real estate and equipment loans. The combination of a low equity requirement, terms up to 25 years, and fixed rates at historic lows, makes the 504 program better than ever. For more information, please contact a TCM loan officer.
The CARES Act automatically provides up to 6 months of loan payments (inclusive of principal, interest, and fees) for all existing SBA 504 loans. This debt relief is also available for new 504 loans that fund by September 2020.
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, 2020 funding. |
