With the recent decline in the 10 Year Treasury Rates, the SBA 504 Rate is now below prime rate.
Other positive news – GTCC has been designated as an Accredited Lender and can participate in the new SBA Small Loan Program. The expedited approval process program is for loans with a maximum SBA loan amount of $500,000 (gross debenture). This will leverage into projects of:
Total project $1,210,000 at 90% financing
Total project $1,382,000 at 85% financing
Total project $1,610,000 at 80% financing