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June 2009 Headlines |
June's 20-year fixed interest rate is 5.9 percent.
International Mulch Company has utilized the SBA to help finance another building within the St. Louis region.
Win Big...Just Like Mark Benten
Mark Benten of Cass Commercial Bank received a gift card for referring a loan to St. Louis County Economic Council. You, too, could win big!
Did You Know...
You can schedule a complimentary, informative presentation on the benefits and requirements of SBA 504 financing.
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 Monthly Rate and Benefits
 June's SBA 504 rate is 5.9 percent for a 20-year fixed term and 4.5 percent for a 10-year fixed term. Both are "all-in rates" and include fees.
In addition to competitive rates, the SBA 504 offers many benefits:
- Low fixed interest rates
- Long-term financing (10 or 20 years)
- Low down payment (10 to 20 percent)
- Ability to finance soft costs/contingencies
- Mitigation of credit risk
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SBA 504: A Resource for International Mulch Company
In 2000, Cindy and Mike Miller founded International Mulch Company (IMC), the market leader in recycled rubber products for residential, commercial and municipal landscaping. The company gives tires a second life as a wood mulch substitute, which is sold at Ace Hardware, True Value, Lowe's, Costco, and Home Depot.
IMC first utilized the SBA 504 loan to purchase its Bridgeton, MO location. The company recently was approved for its second SBA 504 loan with SLCEC. The total project cost is $4 million with an SBA 504 loan of $1.6 million.
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