The 20-year fixed interest rate on SBA 504 loan projects has hit a new record low . . . and this is the fourth time it’s happened in the last six months. I feel a bit like a broken record – – every time I turn around I’m blogging about this, emailing someone about it, or talking to another financial news outlet about it – – but this really is a HUGE deal. This is the first time the 20-year fixed interest rate on SBA 504 loans has dropped below 5.00% — to 4.86%.
I know you’ve heard this from me time and again, but RIGHT NOW really is the best time to purchase commercial property! There’s no telling when (or IF) you’ll ever have an opportunity like this to get an interest rate this low fixed for 20 years – – it’s just unheard of.
The unfortunate part of all this good news is that it may really go unheard – – you’re still not likely to see a report about it on the nightly news. They’re still pelting us with details about the latest unemployment figures. I firmly believe that acting as a contrarian is a key to success, and I encourage you to share this little bit of positivity with others who need to hear it.
Other lenders may still be playing it safe and refusing to help owners of small and mid-sized businesses get the financing they need, but Mercantile Capital Corporation isn’t. We’re still closing loans, allowing brilliant entrepreneurs to capitalize on low down payments and ridiculously low interest rates. Commercial property ownership is one of the best long-term investments for a worry-free retirement. Shouldn’t you or someone you know be looking into it?
What are your thoughts about our economic recovery? What ideas or concerns do you have? Leave a comment below and let me know what you think . . .