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November Business Real Estate Loan Rates Announced

By Colin McEvoy on November 12, 2019

November loan rates for the Pennsylvania Industrial Development Authority (PIDA) program and U.S. Small Business Administration (SBA) 504 program have been released.

The rates for November 2019, according to Seedcopa, can be found below:

 

November 2019 SBA 504 Loan Rates

10-Year Effective

3.93%

10-Year Refinance

3.60%

15-Year Effective

3.74%

15-Year Refinance

3.78%

25-Year Effective

3.80%

25-Year Refinance

3.83%

 

November 2019 PIDA Loan Rates

10-Year Fixed

2.75%

15-Year Fixed

2.75%

 

The 504 loan program provides capital to small businesses for the acquisition of fixed assets to promote economic development in the form of long-term fixed-rate financing on reasonable terms, according to the SBA.

PIDA provides low-interest loans for eligible businesses that commit to creating and retaining full-time jobs. Projects eligible for PIDA financing include land and building acquisition, construction and renovation costs, and machinery and equipment purchases.

Low interest rate PIDA loans are provided through Lehigh Valley Economic Investment Corporation (LVEIC), a Pennsylvania certified economic development organization. Lehigh Valley Economic Development Corporation (LVEDC) provides administrative support to LVEIC.

For more information or to seek assistance in applying for a loan, request a consultation on the LVEDC website at lehighvalley.org.

Seedcopa is a government loan specialist that helps local businesses grow, create, and retain jobs while stimulating growth within their communities, according to Sherwood Robbins, Seedcopa’s managing director.

“Despite fears of a looming recession, top local lenders are reporting steady confidence in the economy,” Robbins said. ” That’s the experience we’re having with borrowers, who continue to report better earnings and cash flow. Yes, we’re all conscious of the risk for each lending request, but the market remains vibrant.”

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