SBA Rates 5.620% 10yr 5.989% 20yr 5.946% 25yr | SBA Refi Rates N/A 10yr 5.992% 20yr 5.949% 25yr | Prime Rate 6.75%
Building Strong and Reliable Relationships with our Lending Partners
Our CDC is proud to offer five unique loan programs to assist your small business client. Unlike many other Certified Development Companies in Indiana, we have a multitude of lending options to assist in your client’s needs!
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Our staff collectively have over 60 years experience working with SBA loans and other loan programs. You and your client can confidently rely on our guidance for your loan project.
Benefits of Our Loan Programs
Lower Exposure
Lower LTV Ratio
Lower Credit Risk
Lower Reserve Requirements
Favorable Loan Terms
Several Term Options
Ranging from 3 to 25 Years
Fixed Interest Rate
Fast Approvals
Our Board Meets Weekly
Assist More Clients
Experienced Loan Professionals
Our most popular loan program is the SBA 504 which provides an ideal solution for business lending.
The long-term, fixed-interest loan rate puts financing within reach for businesses that may not qualify for a conventional loan. CDC partners with banks and other third-party lenders to secure leveraged financing of assets. In addition, the SBA also offers the 504 Refinance Program, a program that could be incredibly beneficial for both you and your client.
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Contact us and start offering the advantage of the SBA 504 Program and the SBA 504 Refinance Program to your clients today.
SBA504 Refinance Program Advantages
Lender Benefits:
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Boost the bank's loan production
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Minimize risk - banks can limit their exposure to 50% of the total project
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Generate new fee income
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Free up your client's trapped capital
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Combined LTV (1st and 2nd) up to 90%
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20-year and 25-year, below-market, fixed interest rates
Eligibility Guidelines:
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Can refinance one or more commercial loans
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Maximum refinance LTV - 90% of the value of collateral pledged for existing mortgage or secured debt(s). Cross collateralization of other fixed assets is allowed to get to 90%
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Maximum refinance LTV - 85% of the value of collateral pledged when mortgage refinance request also includes "Eligible Business Expenses". The aggregate amount of eligible expenses cannot exceed 25% LTV
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The loan to be refinanced must be at least 24 months old and in good standing for the last 12 months
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Business must be operating for 2 or more years
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Appraisal is not required to submit refinance application, but will be a condition of the funding
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Business must be at 51% occupancy at the time of application
For more information on the SBA Refinance Program, please contact a Loan Specialist!
LENDER RESOURCES
A summary of the CDC loan programs offered along with the eligibility, terms, rates, etc.
Provides a history of the SBA 504 rates as well as the current rates (based on term)
Lender Benefits on partnering with the CDC for the SBA 504 Refinance Program and Eligibility Guidelines
Determine an estimate monthly principle and interest payment (doesn't include the fees included in the interest rate)
Provides a history of the WSJ Prime Rate (used to determine the interest rate for Non-SBA loans)
Estimate the monthly principle and interest payment for Non-SBA loans
Compare the SBA504 program with the 7a program to determine the program best suited for your client
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