Interest rates for commercial real estate and equipment 504 loans are set once-a-month and are fully amortized over the course of the loan.
The 20 year fixed interest rate for 504 loans that funded in February is 4.607%.
The twenty-year interest rate for the standalone 504 REFINANCE program was 4.649% .
The 10 year fixed interest rate for 504 loans that funded in January is 4.598%.
The comparable interest rate for a 10 year standalone 504 refinance loans was 4.639%.
There are generally four fees that small business borrowers pay when closing a 504 loan:
A one-time origination fee of 2.15 percent of the 504 portion of the loan
A one-time bank participation fee of .5 percent of the loan amount
Attorney closing costs of roughly $2,500
Recording and title costs (typically financed as part of the loan)