Fixed Rate SBA 504 Loan Financing for purchase or refinance owner-user commercial real estate

April 8, 2022 by Jason Kardos

Fixed Rate Financing

Interest rates are rising, which means now is a good time to lock in a long-term, low interest rate with SBA’s 504 loan program. 504’s can be used to purchase or refinance owner-user commercial real estate. The blended structure of SBA’s 504 loan allows a borrower to fix up to 40% of the total loan amount for 25 years. As of today, SBA’s Effective 25-year 504 rate is 4.676%.

Typical 504 Structure

A typical 504 loan is – 50% 1^st mortgage (lender), 40% 2^nd mortgage (SBA), 10% equity injection from the business owner. The illustration below comes from SBA.gov.

Three (3) Differences between 504 and Conventional

Conventional

SBA 504

Loan Structure

Typically 25 year amortization with a balloon payment or term in 10 years

SBA 2^nd mortgage product (30-40% of the purchase price) is a 25 year, fully amortizing loan with no balloon. The conventional 1^st mortgage (50% of the loan) is also available for 25 years with no balloon.

Down Payment

Typically 30%

From 10% to 20%

Interest rate

Typically fixed for 5 years, resets, then fixed for another 5 years, or fully fixed for 10 years

504 2^nd Mortgage fully fixed for 25 years; fully fixed rates also available on 1^st conventional mortgage

Please call, email or text me today to talk about these and other owner-user, Commercial Real Estate purchase and refinance options. We lend nationwide.

Bailey Wolff

Business Development Associate

M: (509) 385-1610

A: 533 2nd Street, Suite A, Encinitas, CA 92024

W: www.harvestsbf.com

E: bwolff@harvestsbf.com

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