Liberty’s Weekly SBA Rates and Owner Occupied CRE Lending Report For Jan. 29, 2014January 29, 2014
One small business owner implored the new leader to get Congress to reinstate the SBA 504 refinance program that expired in 2012.
“The SBA 504 refinance provision is important because it allows small business owners to tap the embedded equity in their commercial facilities,” he said.
The SBA 504 program is one we here at Liberty SBF also believe can help spur economic growth. In fact, we’ve written about it before. In an article for IndustryToday.com, Liberty SBF CEO Alex Cohen pointed out the benefits of the program.
“Approximately two-thirds of all SBA 504 borrowers reported job growth within two years of receiving the loan,” Cohen said. “Additionally, businesses with job growth, not including business start-ups, averaged nearly 12 new jobs per business and about $41,600 in SBA 504 loan dollars per new job.”
A hot topic these days is how small businesses can widen the marketplace for their good and services by selling in foreign markets. CNNMoney recently ran a report on small businesses that started marketing overseas. The article said that “out of the 6 million U.S. small businesses that have employees, only 5% are currently exporting goods and services, according to Dennis Chrisbaum, director of international trade finance with the Small Business Administration.”
“The largest untapped resource for American exports is small- and medium-size companies,” Jody Milanese, senior director of government affairs with the SBEA, is quoted in the story.
Small Business Administration (SBA)
Weekly Rate Sheet 1/29/2014
Liberty SBF directly funds Owner-Occupied Commercial Real Estate Loans up to $13M.
3.25% I WSJ PRIME FLOATING RATE
4.19% I 5-YEAR LIBOR SWAP FIXED RATE