- PIDA's Rages
- May 2016 SBA 504 Rates
- Refinance Debt with 504 Loan
PIDA's Rates
Listed below are the latest interest rate options for the PIDA loan program. The rates will be in effect for loan applications received through June 30, 2016.
For Real estate loans financing eligible land and building costs, borrowers will have the following two interest rate options:
1. Fixed interest rate for the full term of the loan (up to a 15-yr. period). This option is calculated using the 10-year treasury yield +150 basis points. Based on the current 10-year treasury yield, the fixed rate option is 3.25% for the life of the loan.
2. Fixed interest rate for a seven year period set at the 10-year treasury rate +50 basis points. After seven years, the rate will reset to the 10-year treasury rate +50 basis points. Please note, the reset rate is limited to a 200 basis point increase/decrease and has a floor of 2.25%. The reset rate is then fixed for the duration of the loan.
For this option, the rate is fixed for years at 2.25% and will reset to the 10-year treasury rate +50 basis points after the seven year period. The reset interest rate is capped at 4.25% (200 point increase) with a 2.25% floor and will be fixed for the remaining term of the loan.
For Equipment loans
3.25% fixed rate for the full term of the loan.
For Working capital and accounts receivable lines of credit 3.25% fixed rate for 12 month period.
For Pollution prevention and energy efficiency loans
2.00% fixed rate for the full term of the loan.
May 2016 SBA 504 Rates
• 4.32% 20-Year Fixed Rate, 90% LTV, Gross Debenture of
$1 million or more
• 4.78% 20-Year Fixed Rate, 90% LTV, Gross Debenture less than $1 million
Refinance Debt with 504 Loan
Businesses will be able to refinance debt with a 504 loan. Learn more about how up to 90% loan-to-value financing, 20-year terms, and fixed low interest rates. Stay tuned for updates or call Jim Pawlikowski, BCEDC Loan Manager, 215.348.9031