504 Rates Have Fallen – Great News for Business Owners!

The debenture rate for the U.S. Small Business Administration’s 504 loan product has dropped for the month of May. The 20 year debenture was at 5.9% in April; the 20 year debenture is now at 5.64%! The 10 year debenture is currently 4.59%, down from 4.89% in March. What does that mean for business owners? For a 20 year, $500,000 loan, a business owner could save well over $7,000 in interest over the life of the loan.