Today the SBA announced the updated interest rates for the 504 Loan Program offered by Certified Development Companies (CDC). The program now allows for 10, 20, and 25-year interest rates at 2.231 percent, 2.364 percent, and 2.399 percent, respectively. Small businesses can now apply for a 504 loan at these low-interest rates.
“These are very encouraging terms and very supportive of our nation’s goal to bounce-back from COVID-19,” said William Manger, SBA Chief of Staff and Associate Administrator for the Office of Capital Access. “The longer terms and now lowest interest rates support and encourage entrepreneurs to step outside of the box and look at real investments.”
Partnered with the SBA are the CDCs, which are the driving force behind the 504 Loan Program. See SBA’s 504 Loan Program factsheet for more information on how to expand your business real estate or improve your working capital.
The 504 Loan Program is an SBA business loan program authorized under Title V of the Small Business Investment Act of 1958, 15 U.S.C. 695 et seq. The core mission of the 504 Loan Program is to provide long-term financing to small businesses for the purchase or improvement of land, buildings, and major equipment, to facilitate the creation or retention of jobs, and to support local economic development. Under the 504 Loan Program, loans are made in conjunction with private-sector lenders to small businesses by CDCs, which are certified and regulated by the SBA to promote economic development within their community.
For questions about the 504 Loan Program, please email NH SBA District Office.
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It’s National Native American Heritage Month! Learn about resources to help American Indians, Alaska Natives, and Native Hawaiians start, grow, and expand their businesses. Read More Here
SBA has mentoring, training, counseling, federal contracting, capital access, and other programs to help you start, grow, expand, or recover your small business.
Check out the SBA Business Plan Guide Here
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~ Celebrate ~
National Entrepreneur's Day on November 17th
Global Entrepreneurship Week November 16th-20th
Join us along with some Local Chamber of Commerce's and hear about why you should be spending some of your holiday spending dollars with our wonderful small NH retailers.
Think SMALL this Holiday Season
and SUPPORT your LOCAL #SmallBiz
Friday - November 20th
Download a copy of the PDF for SBA November Events
Weekly Wednesday Webinar for all things SBA at 9 am.