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February 2010
your monthly 504 news source
provided by
St. Louis County Economic Council, Business Finance Division 
 

Februrary 2010 Headlines

Februrary's 20-year fixed interest rate is 5.5 percent. Learn more about the program's many benefits for businesses.
 
Dan Miller of Regions Bank received a gift card for referring a loan to St. Louis County Economic Council. Learn how you could be next month's big winner.
 
Did You Know...
SBA fee relief deadline approaching, but expansion is expected.
 
 
MonthlyRate
 Monthly Rate and Benefits
February's SBA 504 rate is 5.5 percent for a 20-year fixed term and 4.9 percent for a 10-year fixed term. Both are "all-in rates" and include fees.
 
The SBA 504 loan program is an ideal way to finance land or building acquisitions, renovations, construction, or equipment purchases and has many benefits:
  • Low down payment
  • Preserve company's cash for working capital
  • Competitive interest rate
  • Fixed-interest rate for the term of the loan
  • Locked-in rate allows for better protection against interest rate fluctuations
  • Asset may be owned by a "passive entity" and leased by the operating company
  • Financing that fits project sizes from $125,000 and up
Contact Derek Dickrader for more information or visit www.slcec.com to learn more about the program. 
 
incentives2009 Incentive Program 
  
Dan Miller of Regions Bank received a gift card for his first referral to St. Louis County Economic Council. He referred Clean Earth Technologies LLC in the amount of $227,000. 
 
1st referral - Receive a $50 Macaroni Grill gift card after the application is approved and a $75 Best Buy gift card after funding. 
  
2nd referral - Receive a $50 Macaroni Grill gift card after the application is approved and a $100 gift card to Citizen Kane or Sam's Steakhous after funding. 
  
3rd referral - Receive a $50 Macaroni Grill gift card after the application is approved and a night at the Chase Park Plaza Hotel with dinner at the hotel's premier restaurant after funding.
 
Contact Derek Dickrader at 314.615.7681 to submit a referral.
didyouknowDid You Know...Dereks headshot
 Did you know that the Small Business Administration (SBA) fee relief on the 504 program is estimated to end February 28, 2010? In order to have your loan included in these fee reductions, you must have the loan approved and designated with a loan number before this date. 
 
National Association of Development Companies (NADCO) and the SBA are working with the White House and Congress to get these fees extended further into the year, but are uncertain as to when this will happen.

 

For additional questions on the SBA 504 loan program or fee reductions, contact Derek at 

ddickrader@slcec.com or 314.615.7681.
Missouri's only Accredited Economic Development Organization
Derek Dickrader, business development officer 
121 S. Meramec Avenue, St. Louis, Missouri 63105
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