SBA 504 Loan Interest Rates

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April 2024

25-Year Fixed Rate Standard:

25-Year Fixed Rate Refinance:

20-Year Fixed Rate Standard:

20-Year Fixed Rate Refinance:

Estimated 10-Year Fixed Rate Standard:

Estimated 10-Year Fixed Rate Refinance:

Official monthly SBA 504 effective interest rate tables can be found at Eagle Compliance LLC. 25- and 20-year term loans fund every month; 10-year term loans fund every other month. Effective interest rates are inclusive of servicing fees, which are subject to credit risk of the applicant.

Servicing the States of Alabama, Florida, and Georgia.

SBA 504 Overview & Eligibility

Commercial Real Estate Loans. Machinery & Equipment Loans. Green Loans. Debt Refinancing. Up to 90% fixed interest rate financing.

The Small Business Administration (SBA) 504 Loan Program available through Florida First Capital/First Capital Finance provides affordable long-term capital for the purchase of capital assets, such as owner-occupied commercial real estate, energy efficient green projects and/or heavy duty machinery and equipment, without the high down payment requirements often associated with conventional financing programs. Borrowers can also get relief from high-interest commercial mortgage debt under the SBA’s 504 Debt Refinancing Program.

Loan Structure & Down Payment Schedule

The 504 Loan Program is a partnership program between Florida First Capital/First Capital Finance – a nonprofit SBA licensed and regulated Certified Development Company – and a commercial lender. Working with participating lenders, Florida First Capital/First Capital Finance provides up to 90% financing at below-market, fixed interest rates and long amortization terms for eligible fixed asset purchases.

Typically, a commercial lender provides financing for 50% of the 504 loan project and takes a first lien position; Florida First Capital/First Capital Finance/SBA provides 40% of the project financing and takes a second lien position; and the borrower provides a down payment of just 10%. There is no limit on overall project size. If a project is a start-up business (less than two years in operation) or a special purpose facility, the borrower’s down payment increases to 15%.

If a project is a special purpose facility and a start-up business, the borrower’s down payment increases to 20%. Machinery and equipment only loans may qualify with a 10% or 15% borrower down payment.


  • The business must fall within the size standards set by the SBA.
  • Owners must be U.S. citizens or registered aliens with green card.
  • The business must be operated for profit and located in or planning to locate in Alabama, Florida or Georgia.
  • The business must be a legal entity: corporation, partnership, sole proprietor or limited liability company.
  • The business’s tangible net worth cannot exceed $15 million.
  • The business’s average net income after Federal income taxes (excluding carry-over losses) for the two full fiscal years prior to application cannot exceed $5 million.
  • Loans cannot be made to businesses engaged in speculation or investment in rental real estate.

Explore Your Small Business Loan Possibilities