SBA 504 loan fees to drop in FY16

On September 28, the U.S. Small Business Administration announced that 504 fees will be going down for fiscal year 2016. Beginning October 1, 2015, the SBA guaranty fee will decrease from 50 basis points to 0 basis points and the ongoing SBA annual fee will be reduced from 93.75 basis points to 91.4 basis points.

On a $1 million SBA 504 loan, borrowers will save $5,000 up front and $235 per year. To see how much you can save, calculate your payment here.