TALLAHASSEE, Fla.--(BUSINESS WIRE)--Small Business Administration (SBA) commercial mortgage interest rates have fallen to an all-time historic low, creating a very timely and affordable opportunity for small business owners to refinance conventional mortgage and other business related debt with or without a cash-out option or purchase commercial real estate.
Preserving capital is as important now as it’s ever been. The SBA 504 Loan Program available through Florida First Capital Finance Corporation provides up to 90% project financing at below-market, fixed interest rates (no ARMS) and fully amortizing terms up to 25 years (no balloons).
SBA 504 fixed interest rates are currently as low as 2.52%. Projects start at $125,000 and can exceed $20 million. Eligible use of funds include the purchase of commercial real estate, renovations, new construction, energy efficient “green” initiatives and/or fixed heavy duty machinery and equipment, as well as commercial debt refinancing.
Small business owners who are considering refinancing or purchasing commercial real estate need to act now given the current unprecedented low rate environment. This opportunity may not come around again for years, if ever.
Florida First Capital, now in its 37th year, is a private, nonprofit and federally regulated Certified Development Company that promotes economic development and job creation via the SBA 504 Loan Program. The company is currently ranked the #1 SBA 504 lender nationally among all active Certified Development Companies.