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October 2009
your monthly 504 news source
provided by
St. Louis County Economic Council, Business Finance Division 
 

October 2009 Headlines

Rates Drop to Record Low...
October's 20-year note rate is 3.9 percent and the fixed interest rate is 4.8 percent.
 
SBA 504 loan interest rate keeps falling to record low
 
Company Profile...
The Goddard School expands in Wentzville, MO with an SBA 504 loan.
 
Win Big...
You could win attractive gift cards for area stores, restaurants and even hotels. Learn how you could be next month's big winner.  
 
Did You Know...
September 2009, the Business Finance Corporation of St. Louis County closed its largest SBA 504 debenture ever.  
MonthlyRate Rates Drop to Record Low

Now is a great time to contact Derek Dickrader about SBA financing. SBA sign&dateAt 4.8 percent, October's 20-year fixed-term is the second lowest it has been in years. October's 10-year fixed-term is 4.2 percent. 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
Contact Derek Dickrader for more information. 

IMCCompany Profile: The Goddard School 
 
Goddard schoolIn February 2009, The Goddard School received SBA approval for a construction loan to build a new school in Wentzville, MO. The school, which opened July 20, 2009, has a current enrollment of 60 children. 
 
The Goddard School is a fully licensed child care facility for children ages six weeks to six years. It administers planned educational programs that meet the social, emotional, cognitive, and physical needs of each child. Entrepreneur magazine recognized The Goddard School as the number one child care franchise in the United States for the seventh consecutive year. Click here to learn more about this project.  

 
incentives2009 Incentive Program 
 
Submit an SBA 504 referral to St. Louis County Economic Council to qualify for the following 504 Incentive Program: 
 
1st referral - Receive a $50 Macaroni Grill gift card after the application is approved. Immediately after funding receive a $75 Best Buy gift card. 
  
2nd referral - Receive a $50 Macaroni Grill gift card after the application is approved. Immediately after funding receive a $100 gift card to Citizen Kane or Sam's Steakhouse. 
  
3rd referral - Receive a $50 Macaroni Grill gift card after the application is approved. Immediately after funding enjoy a night at the Chase Park Plaza Hotel including dinner at the hotel's premier restaurant.

Contact Derek Dickrader at 314.615.7681 to submit a referral.
didyouknowDid You Know...Dereks headshot
September 2009, the Business Finance Corporation of St. Louis County closed its largest SBA 504 debenture, totaling $1,994,000.
 
Kemco Aerospace Manufacturing will use the loan to purchase new manufacturing equipment so the company can meet the demands of a new contract, which is projected to create an additional 45 new jobs in the next two years. 
 
Kemco was quite pleased to take advantage of the new low 504 rates, which is currently 4.2 percent for 10-year terms.

Contact Derek Dickrader today at 314.615.7681 to discuss how the SBA 504 and current low rates could benefit your business
.  
St. Louis County Economic Council 
Derek Dickrader, business development officer 
314.615.7681 - www.slcec.com
121 S. Meramec Avenue, St. Louis, Missouri 63105
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