COVID RELIEF AND SBA CARES ACT
The rates below are based on loans approved between October 1, 2020 and October 1, 2021.^
504 loans approved prior to October 1, 2020 are subject to different rates based on time of approval.^
2.757%
25 yr rate
2.720%
20 yr rate
2.799%
Refi 25 yr rate
2.764%
Refi 20 yr rate
2.450%
10 yr rate *odd months
Program Details
504 Requirements
Basic 504 Requirements:
Up to 90% financing on Commercial Real Estate and Equipment
25 year Fixed rate financing
Low down payments, typically 10%
Borrow up to $5 M from SBA
up to $5.5 M for being Energy Efficient
or Small Manufacturer
Most for profit Small Businesses are eligible to participate
504 Refinance Requirements
504 Refi Requirements:
Been in business for 2 years or more
Conventional debt, at least 2 years old
Must be current on payments for the last 12 months
Equity in the real estate used for down payment
If appraisal supports it, cash out up to 20% of appraised value is available for eligible business expenses
504 Servicing
Loan Servicing:
Payments- PLP is your resource for obtaining this payment information.
Missed Payments- Payments will be drafted the 1st business day of the month. All payments not posted by the 15th will incur a late fee.
Year-end Statements -Year-end interest statements are not sent out until the end of January.
Payoff SBA loan- Notify PLP as soon as possible. NOTE: You cannot make extra payments to the principal on this loan.
Servicing Requests – Servicing requests that require SBA approval (ex. Subordination, Assumption), please allow 15 business days for approval.
Initial Borrower Contact
Step 1
Prequalification
Step 2
Secure a Lender
Step 3
Underwriting/ File Preparation
Step 4
SBA / Lender Conditional Approval
Step 5
Satisfy Closing Conditions
Step 6
Escrow Closes
Step 7
Complete Construction/ Close SBA Loan
Step 8
Meet the team

Megan Jewell
Director of Operations & Marketing

Brian Devlin
Executive Director

Juliene Wynn
Director of Lending & Compliance
Financed in CO To-Date
Authorized in 2020
Jobs Created
Fixtures in Our Communities
Thriving Borrowers
Testimonials
Preferred Lending Partners supports the growth of local businesses and their bank partners by giving them thoughtful advice and personalized service to simplify the SBA 504 lending process and help Colorado companies buy their own buildings.
Chris Haney, Vice President Commercial Bank, BOK Financial
It is a whole new adventure for us small fish and it helps a lot to have people working alongside us who are not only interested in getting to the closing table, but who are also willing to take the time to provide support, explanations and gentle guidance on the way through.
Stephanie Morgan from Bullet Automotive Bullet Automotive
My experiences working with PLP always exceed my initial expectations. Juliene and Laura take time to meet with the borrowers on every deal, both are very good at communicating process and progress with all involved in the transaction, and make the underwriting and closing process smooth. They pay close attention to our transactions together and are always quick to respond to questions. The whole team is a pleasure to do business with!
Briana N. Austin, U.S. Bank Vice President, SBA Lending at U.S. Bank
Client Satisfaction
Our clients are our top priority, whether a small business owner or a partner lender, we're here to help you navigate the SBA 504 Loan Program.
Our lending practices are built upon honesty, integrity and reliability. Respect in the community we serve is gained by providing knowledge and being the experts in 504 lending.
Our Mission
Preferred Lending Partners is committed to community development and job creation.
We are a creative financing connection that enables small businesses to become fixtures in our community. We are driven by honesty and integrity making us the partners you can trust to help your business thrive.
