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Your Monthly Update on Rates and Industry News

January 2012

 

 

 

New Year's Resolution: Make it Happen! 

 

You may have a New Year's resolution for yourself, but do you have one for your business? Maybe it's expanding a facility, purchasing new equipment or hiring additional employees. Whatever it is, 2012 could be the year to achieve your business goals. With reasonable real estate prices and low interest rates, purchasing the building you've been considering may cost less than your current rent. This year is the year to take your business to the next level, and the SBA 504 loan program equips you to do it.

  

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changesTip of the Month: Calculating 90% Financing 

 

The SBA 504 loan program can be used to finance the lesser of:

  • 90 percent of the appraised "as completed" value, or
  • 90 percent of the total project costs.

As Completed - Takes into account any bids used to improve the value of the property. While you may not finance all of the costs, you can finance many of the costs that add value to the building.

 

Total Project Costs - Includes the purchase of land, construction, furniture, and fixtures, as well as soft costs such as zoning and architect fees. Working capital, such as inventory, cannot be included. The fees associated with the program typically can be wrapped into the loan.

 

For more information, please contact Steve Grelle at 314.615.7681.

January Rates 

4.66%
SBA 20-year fixed

 

3.77%
SBA 10-year fixed
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3.28% - 5.28%
BOOST 
variable rate

 

5.02% - 7.02%
BOOST
five-year fixed
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for complete listing of January rates.  
 
January Headlines
 
Mercury Communications is one of St. Louis' biggest small business successes. The general contractor and wireless firm utilized the SBA 504 loan program and St. Louis Enterprise Centers to boost its success. 

 

Demand for SBA-backed loans still high 

While few were left unscathed by the effects of the financial crisis, it could be argued that entrepreneurs - perpetuators of the "American Dream" - took the biggest hit.

 

The SBA has unveiled a new $1 billion program to invest in young companies by loaning money to venture capital funds.
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