On September 28,2015, SBA announced a fee reduction for the SBA 504 Loan program effective October 1, 2015.
This change is applicable to all SBA 504 Loan approvals dated
after October 1, 2015.
2 fees are being reduced:
1.) The one-time Guaranty Fee that SBA charges, which is built into the debenture pricing, is being reduced from 0.5% to zero. This means overall cost to the borrower is reduced!
2.) The annual “Borrower Fee” that SBA charges, which is built into the monthly interest rate, is being reduced from .9375% to .914%. This will lower the overall effective rate on debentures.
Please read attached link to the SBA Information Notice dated September 28, 2015 for more detailed information on the FY 2016 fees in regard to both the SBA 504 Program and the SBA 7a Program.
Minnesota Business Finance Corporation (MBFC) was recognized as the top Certified Development Company (CDC) in Minnesota at the MN SBA Lenders Conference Awards Luncheon on September 3, 2015.
Nancy Libersky, District Director of the MN SBA office congratulated MBFC on having the greatest dollar volume and highest number of SBA 504 loans for the year and presented Saehr and Kruize with the award honoring their 2015 fiscal year accomplishments.
MBFC is consistently rated in the Top 25 of all 221 CDC’s ranked in the Nation and is honored to have earned this prestigious award.
Minnesota Business Finance Corporation (MBFC), West Central Initiative (WCI) and West Central Minnesota Small Business Development Center (WC MN SBDC) invite you to a complimentary luncheon called Lunch, Learn and Link!
Friday, September 18, 2015
Barry Auditorium, Concordia College-Moorhead, MN
11:30 – 1:00 PM
Presentations include the commonly used business assistance programs and resources available in the region. It will be a great opportunity for Lenders and Finance/Consulting Representatives to learn more about the following specific programs:
- SBA 504 by MBFC
- SBA 7(a) by WC MN SBDC
- Regional Loan Programs by WCI
- WC MN SBDC Metrics.
Hurry so you don’t miss out! Registration closes on SEPT 15th as space is limited and will fill up quickly! The invitation may be forwarded to others that may benefit from this informative luncheon.
Please RSVP to Sheila by calling (218) 299-3037
Or you may email the following link: email@example.com
We look forward to seeing you there.
It appears, given the current rate of SBA 7(a) loan approvals, the SBA 7(a) program may be shutting down soon for the remainder of the fiscal year. Realistically, once the program is up and running again, there will be quite a backlog of SBA 7(a) applications.
Let MBFC Help!
Timing is everything. NOW is the time to utilize MBFC and the SBA 504 Loan Program for your fixed asset financing needs. Let your borrowers take advantage of the long term, fixed rates the SBA 504 Program has to offer! The SBA 504 rate environment is attractive with the current 20 yr. effective rate at 4.96% and the 10 yr. effective rate at 4.33%. Turnaround time is great, with SBA typically approving our applications in 4-5 business days.
Give one of our Business Development Officer’s a call today!
SBA 504 LOAN PROGRAM FULLY FUNDED!
The 2015 Minnesota Lenders’ Conference will be held on Thursday, September 3rd from 8:00-5:30 p.m. at the Marriott Minneapolis Northwest in Brooklyn Park.
Small business loans financed through the SBA provide needed access to capital for start-up and existing small business owners across Minnesota.Â Today more and more small businesses need capital to support their growth and create jobs. The SBA loan programs should be a key part of every lenderâ€™s strategy.Â They are a proven tool for attracting new customers with competitive loans for business expansion and working capital needs.
Take this opportunity to learn how to maximize your organizationâ€™s participation in SBAâ€™s lending programs and build your network of SBA program and industry experts.
For more information on the event or to register click: 2015 SBA MN LENDERS CONFERENCE