Florida 504 Loan Volume Nearly Doubles

The 20-year effective interest rate on Small Business Administration (SBA) 504 loans declined to 5.24% in July – the lowest in the program’s history.

In April, the rate was 5.25%, which was the lowest at the time but July edged it out for the new record.

The new low rate, coupled with recent Stimulus enhancements to the program (the elimination of most program fees and limited debt refinancing), is a rare piece of good news for small businesses suffering from the nationwide reduction in credit availability.

“With the difficulties small businesses are having in today’s economy, the recent Federal incentives and a new all-time low interest rate create a unique opportunity for small businesses to buy or enhance their facilities,” said Todd Kocourek, president & CEO of Florida First Capital.

For more information on Commercial Capital Limited and its 504 loan program, visit www.commerciallendingpros.com, email us at loans@commerciallendingpros.com or call 863.298.8900 or 813-833-3132.