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

November 2009 Headlines

June's 20-year fixed interest rate is five percent.
 
Obama Advocates Raising Cap on SBA 504 Loans
Small businesses will benefit from the raise of caps from $1.5 million to $5 million
 
Win Big...Just Like Tom Shaner Jr.
Tom Shaner Jr. of First Bank received a gift card for referring a loan to St. Louis County Economic Council. You, too, could win big!
 
Did You Know...
The SBA and NADCO are lobbying to extend certain fee eliminations set to expire next month.
 
 
MonthlyRate
 Monthly Rate and Benefits
November's SBA 504 rate is 5 percent for a 20-year fixed term and 4.1 percent for a 10-year fixed term. Both are "all-in rates" and include fees.
 
SBA sign&dateIn 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 or visit www.slcec.com to learn more about the program. 
 
 
 
incentives2009 Incentive Program 
 
Tom Shaner Jr. of First Bank received a gift card for referring Kemco Aerospace Manufacturing to St. Louis County Economic Council. The SBA debenture amount is $1,994,000 with a projection of creating 45 jobs. 
 
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
 
The Small Business Administration (SBA) and National Association of Development Companies (NADCO) are lobbying the United States Senate to extend the current fee eliminations for the SBA 504 loan program.
 
Currently, these benefits, which include the certified development company (CDC) processing fee and bank participation fee, are set to expire December 2009. 
 
Contact Derek to learn more about how these fee eliminations can benefit your clients, and look for updated information in future newsletters about their status.
 
314.615.7681 
Derek Dickrader, business development officer 
314.615.7681 - www.slcec.com
121 S. Meramec Avenue, St. Louis, Missouri 63105
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