Lowest Rate in Nearly Half a Century

With a jobs gain of 263,000 the report was positive for the 103rd consecutive month and the Unemployment Rate declined to 3.6%, matching a number last seen five months after Apollo 11’s moon landing. Additionally, the previous two months’ reports were revised upward, and average hourly earnings rose 3.2% from a year earlier. Since the US has more job openings than unemployed people it is considered to be at “full employment,” yet this strong economic data seems to have little impact on inflation, something that was alluded to in Chairman Powell’s comments after the FOMC meeting concluded on Wednesday with no change in policy.



In addition to leaving the Fed’s target rate for Federal funds at 2.25-2.50%, the Committee reduced its rate for IOER (Interest on Excess Reserves) from 2.40% to 2.35%. This does not change their monetary policy but does seem to reflect their previously discussed patient approach to increasing interest rates by lowering its rate on bank deposits.

The commentary above is provided by Eagle Compliance, LLC (Eagle). Eagle is responsible for the marketing, pricing, and sale of the certificates (debentures) sold to investors to fund the SBA 504 Loan Program.

Fundings for 10-year 504 loans are provided on an every other month basis. The effective rate above represents the May, 2019 funding.

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Our loan officers listed below can be reached at 651.481.8081 or toll-free at 1.888.481.4504.

Debby Gustafson, ext.34 debby.gustafson@tcmcdc.com
Angie Way, ext. 18 angie.way@tcmcdc.com
Sheil Nelson, ext.16 sheil.nelson@tcmcdc.com
Rachel Edgar, ext. 25 rachel.edgar@tcmcdc.comMike Kinderman, ext. 32 mike.kinderman@tcmcdc.com 
Heidi Pautsch, ext. 14 heidi.pautsch@tcmcdc.com

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.