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This
sample 504 financing structure is provided for your
information as a general guideline. It should not
be interpreted or used as a prequalification or approval
of this financing. To obtain more information on 504
loan terms or get prequalified for a 504 loan for
your project, contact us.
Estimated
Sources of Funds
| Source |
Amount
($) |
%
of Total |
Rate
(%) |
Term
(yrs) |
Monthly
Payment ($) |
| Bank
Loan |
0.00 |
50
% |
7.75 |
25.00 |
0.00 |
| SBA
504 Loan |
0.00 |
40
% |
6.46 |
20.00 |
0.00 |
| Down
Payment |
0.00 |
10
% |
- |
- |
- |
| Total
Financing |
0.00 |
100
% |
- |
- |
0.00 |
Please
note:
The above estimated structure is based on 90% financing.
The actual amount of financing available will vary
based on the project type, the applicant's credit
quality and based on the lesser of project cost and
appraised value.
Bank interest rates are estimates
and may be fixed or variable. The bank loan amortization
is typically 20 to 25 years and may carry a shorter
term or due date. Bank loan fees vary. You can negotiate
rates and terms with your bank, provided they use
at least a 10 year maturity.
The 504 rate is estimated based on
current rates. The final rate is set at the time of
loan funding. 504 rates are fixed for 20 years, typically
at the 10-year Treasury rate plus 2 1/2 to 3%. 504
fees are to 2.15% of the 504 loan amount plus $2300
and are financed with the project. 504 loans are fully
amortizing loan with no balloon payments. 504 loans
have a formula prepayment penalty in their first ten
years.
Success Capital Expansion & Development Corporation
1420 F Street 2nd Floor
Modesto, CA 95354
Phone: (209) 521-9372
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