APRIL INTEREST RATE ON SBA 504 LOANS DECLINES
Brandon Berger, loan officer for Big Sky Economic Development Corporation was notified by NADCO, the trade association for the nation’s Certified Development Companies (CDCs), that The Small Business Administration’s (SBA) 504 loan program provided long-term, fixed rate financing for commercial real estate at the lowest interest rate since the program’s inception in 1986. This low rate, coupled with the new SBA fee reductions provided by the Congressional stimulus bill, led to an interest rate – including service fees – of only 5.25% for April for a 20-year, fixed rate commercial loan with as low as a 10% down payment.
The SBA’s lending partners, Certified Development Companies, such as Big Sky EDC, are busy working with business borrowers who are taking advantage of this record low interest rate to purchase or build their own facilities. For information, contact Brandon Berger direct at 406-869-8403. berger@bigskyeda.org
www.bigskyeda-edc.org