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The information provided by these calculators is for illustrative purposes only and accuracy is not guaranteed. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a BLP financial professional prior to relying on the results.

This calculator does not have the ability to pre-qualify you for any loan program. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. This calculator does not calculate the Annual Percentage Rate or Average Prime Offer Rates. BLP does not guarantee any of the information obtained by this calculator.

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February 2022 SBA 504 Rates

Current interest rates for SBA 504 loans as of February, 2022

10-YR SBA 504 FIXED RATE

3.63%

10-year, standard SBA 504 project

20-YR SBA 504 FIXED RATE

3.45%

20-year, standard SBA 504 project

25-YR SBA 504 FIXED RATE

3.60%

25-year, standard SBA 504 project

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DID YOU KNOW...?

Previously, 504 debt refinance was only available for complete refinancing of buildings and equipment, or could be used on a limited basis as part of an expansion project. The amount of refinancing that can now be included with an expansion project has doubled. The new rules also allow for refinancing federally guaranteed loans that were used for an eligible project.


For example, businesses that used an SBA 7(a) loan to purchase equipment or real estate can now refinance that debt using the 504 program to enjoy a lower, fixed interest rate.

GRANT PROGRAM AVAILABLE to Racine county businesses

The purpose of the Racine County Community Development Block Grant – Coronavirus (CDBG – CV) is to provide economic relief for small businesses with five or fewer employees, that have experienced a negative impact on their business as a direct result of the pandemic.

 

The CDBG-CV grant provides up to $12,000 to aid in operational costs, training needs, professional fees, costs related to changing the business model to adapt to current economic conditions, and costs to improve safety during the pandemic.

 

Because the source of the grant is from the U.S. Department of Housing and Urban Development (HUD) through its Community Development Block Grant program, a Low-to-Moderate-Income requirement will apply. This grant will not be available to businesses located in the City of Racine because the City received its own allocation directly from HUD.

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