The Capital Regional Development Council, CRDC, is very pleased to announce that the SBA has reduced SBA 504 fees for FY 2016 starting today, October 1, 2015.
What this means:
a) The Upfront SBA Guarantee Fee has been eliminated. It was 50.0 basis points, it is now ZERO. This is the one-time fee included in the Administrative Costs added to the Net Debenture Proceeds at funding. This fee is calculated on the SBA portion of the loan.
b) The Ongoing Annual SBA Guarantee Fee is reduced from 93.75 basis points per year to 91.4 basis points of the outstanding balance of the SBA loan. This reduction is ongoing through the term of the loan.
The SBA 504 programs remains a very competitive source for end-user businesses seeking long-term, fixed rate financing, with as little as 10% down for up to 40 percent of the approved project costs, for their real estate and equipment needs.
CRDC greatly appreciates its relationships with all of our banking and commercial real estate partners.