The purpose of the Direct Lending Program is to provide small businesses with a source of gap financing otherwise not available through conventional lending sources. Loans will be made to 504 eligible recipients who are providing economic development in their community.
25-Year: 6.283% | 25-Year REFI: 6.312% | 20-Year: 6.350% | 20-Year REFI: 6.380% | 10-Year: 6.459% | 10-Year REFI: 6.484% (as of November 2024)
Direct Lending Program
Funding You Can Count On
Eligible Projects/Loan Purpose
- Finance the acquisition of new equipment or real estate
- Finance permanent working capital for a growing business
- Refinance an existing loan from a private lender or other source of sub-prime financing
Eligible Businesses
- Any businesses eligible under the SBA 504 Loan Program requirements
Fees
- Borrower will be responsible for out-of-pocket closing costs to include, but not limited to origination fees, attorney fees, title insurance, recording fees, etc
Collateral
- The loan will be secured by acceptable collateral and have guarantees that they can be reasonably relied upon
Loan Amount
- Loans will range from $50,000 to $250,000
Interest Rate
- Fixed or variable are based upon credit risk
Response Time
- 5-10 days to receive commitment
We look forward to working with you on SBA 504 financing opportunities.
