504 Interest Rates & Fees - As of July 2024

The rates below are based on loans approved between October 1, 2023 and October 1, 2024.^

504 loans approved prior to October 1, 2023 are subject to different rates based on time of approval.^


25 yr rate


20 yr rate


 25 yr Refi rate


20 yr Refi rate



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 If the Project to be funded satisfies one of these goals, the Project is eligible even if the Project does not meet the job creation or job retention requirements a. Reduction of existing energy consumption by at least 10% b. Increased use of sustainable designs c. Plant, equipment and process upgrades of renewable energy sources such as the small-scale production of energy
          or Small Manufacturer
Most for profit Small Businesses are eligible to participate
PLP Application

504 Refinance Requirements

504 Refi Requirements:

Been in business for 2 years or more
Conventional debt, debt must be at least 6 months old.  Note that existing debt is not eligible until 6 months have elapsed from the date of the last disbursement.  This would apply to loans with a disbursement period for construction etc.
Provide payment history for loan to be paid off.  Any delinquency in payments should be thoroughly explained in a letter of explanation to be reviewed during the credit underwrite.
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
Existing debt subject to a federal guarantee is eligible under certain conditions – call PLP to discuss the conditions further

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


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

Brian Devlin

Executive Director

Juliene Wynn

Director of Lending & Compliance

Renee Jewell

Credit Coordinator


Financed in CO To-Date


Authorized in 2020


Jobs Created


Fixtures in Our Communities


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.

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.

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!

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.