504 Lending – by the numbers!

As of July 1, 2012, nine certified development companies had originated eighty-five 504 loans totaling $46,433,000 in 14 eastern Missouri counties during the first 9 months of fiscal year 2012.  A review of the numbers at the start of the year’s fourth quarter show the distribution of loans by North American Industry Classification (NAICS) sectors and is displayed in the attachment.

And 21 of the eighty-five 504 loans – a total of $11,873,000 – were originated using  SBA’s Temporary 504 Refinancing Program, which was authorized by the Small Business Jobs Act.  While the 504 loan program will continue, the refinancing portion will end on September 27, 2012. 

If you are interested in the Temporary 504 Refinancing Program, please speak with an SBA certified development company that is active in Eastern Missouri as soon as possible, since 504 loans that refinance existing debt must have been processed and approved by the close of business on Thursday, September 27, 2012.  For additional information, contact Bill Vickery, (573) 837-2313 or Bob Newman, (636) 358-5941.