With the decreasing subsidy cost of the 504 program,
the 0.5% SBA Guarantee Fee included in the 504 debenture pricing has been eliminated. Is this the same fee as
the 0.5% that is collected
from the bank on their first trust loan? NO, IT IS NOT.
We will continue to collect the 0.5% bank fee at the 504 closing.
What is the impact to your customer? On a $1 million project, the savings to the borrower are $2,000 as demonstrated below:
Project Net 504 Loan Fee Savings
$1,000,000 $400,000 0.5% or $2,000
BFG Outgrows its Headquarters
We are pleased to announce that BFG will be moving its Fairfax office to 3930 Pender Drive, Suite 300, Fairfax, VA 22030.
We will be closed on Friday,
Nov. 2 to pack and expect to open in our new offices on Monday, Nov. 5th and will be busily unpacking. Drop by anytime!
You may have noticed that our Annual Meeting, normally held in October, has not yet occurred.
We will be combining our Annual
Meeting and Lender Awards with an Open House in our new offices.
Please save December 6th from 4 till 7 pm for our party!
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