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SBA 504 Loan Interest Rates
October 2024
25-Year Fixed Rate Standard:
6.076%
25-Year Fixed Rate Refinance:
6.105%
20-Year Fixed Rate Standard:
6.146%
20-Year Fixed Rate Refinance:
6.176%
10-Year Estimated Fixed Rate Standard:
5.865%
10-Year Estimated Fixed Rate Refinance:
5.901%
Official monthly SBA 504 effective interest rate tables can be found at Eagle Compliance LLC. 25- and 20-year term loans fund every month; 10-year term loans fund every other month. Effective interest rates are inclusive of servicing fees, which are subject to credit risk of the applicant.
Under the Small Business Administration (SBA) 504 Loan Program, commercial lenders partner with a certified development company (like Florida First Capital) to provide small business owners with up to 90% financing for the purchase of owner-occupied commercial real estate and/or fixed machinery and equipment.
Typically, a 504 loan is structured whereby a commercial lending partner finances 50% of the project and holds the first mortgage. Florida First Capital/SBA finances 40% of the deal and holds the second mortgage. The borrower provides a 10% down payment.
One of the most critical stages for a commercial lending partner in an SBA 504 loan project is the interim phase between the commercial lending partner’s closing and the permanent takeout of the second mortgage by the SBA, during which time the commercial lending partner is at risk on the second mortgage.
The 504 Bridge Loan Program, available for any Florida SBA 504 loan, addresses this exposure and timing difference by providing commercial lending partners with bridge loan funds to cover the second mortgage until the permanent SBA second mortgage takeout occurs.
NOTE: The 504 Bridge Loan Program is available in Florida only.
Since establishment of the SSBCI 504 Bridge Loan Program, a variety of lenders have participated in the program, including:
The SSBCI 504 Bridge Loan Program is open to all Florida Certified Development Companies. For more information on the program, please contact Christine Melloh, Program Administrator, at 800.504.LOAN or email at Christine@blahblahstudio.com.
Purchase, construct, expand or renovate owner-occupied commercial real estate at up to 90% financing.
Acquire and install long-life fixed machinery and equipment at up to 90% financing.
Refinance commercial mortgage and other business debt up to 90% with or without a cash-out option.
Go green with your project and qualify for additional financing at up to 90%.
Interim phase second mortgage "bridge" financing for our 504 commercial lending partners.
A resiliency working capital loan fund to help Florida’s small businesses and its economy to grow and prosper.
Low cost loans to support industrial recycling throughout the state of Florida.
Connect with Network members to unlock vital capital resources to help meet your specific business financing needs.