In December 2012, the 20 year “all-in” fixed rate for 504 loans fell below 4.0% for the first time in the history of the program. Also, the 10 year rate, which adjusts every two months, is at a record low, hovering just above 3.05%. It is a great time to use the 504 program. In [...]
SBA 504 Projects Funded in January, 2012
February 21st, 2012
HVAC Company in Danvers, MA
- Project was purchase of real estate
- Donna McMillan from Eastern Bank was the lender
- $271,000 purchase price
- $114,000 Bay Colony contribution
- 10 new jobs will be created
Dental Practice in Brookline, MA
- Project was for the purchase and renovation of real estate
- $1,260,000 purchase price; Bay Colony contribution of $511,000
- Chris Berglund from Marlborough Savings was the lender
- 7 new jobs will be created
Internship Program in Lee, MA
- Project was the purchase and renovation of real estate, and refinance of other properties
- $4,176,000 total project; $1,700,000 Bay Colony contribution
- Mark McKenna from Legacy Bank was the original lender, then the bank was merged with NBT
- 6 new jobs will be created
Rehabilitation Center in East Longmeadow, MA
- Project was the purchase and renovation of real estate
- $1,987,000 project; $815,000 Bay Colony contribution
- Jeff Sattler from Nuvo Bank was the participating lender
- 15 new jobs will be created