Great News!
The effective rate for bank loans funded in February is 5.55%, a slight reduction from the January rate. Why are we excited? Those are historically low rates that can help you, our clients and other small business owners secure bank financing or funding. On another note, there is media discussion about enhancements to SBA loan programs, including a refinance program, for owner occupied commercial real estate loans coming due in the next few years. These program enhancement proposals are currently in Senate and House legislation. The refinance program is not yet available.
We would say now is the ideal time to start a business. We'd love to see Indianapolis and businesses everywhere taking advantage of these low rates and other opportunities. And we'll be here to assist in developing your financial model, build a business plan and a go to market strategy so you're prepared to visit the financial institution down the street and secure bank financing for your startup.
The effective rate for bank loans funded in February is 5.55%, a slight reduction from the January rate. Why are we excited? Those are historically low rates that can help you, our clients and other small business owners secure bank financing or funding. On another note, there is media discussion about enhancements to SBA loan programs, including a refinance program, for owner occupied commercial real estate loans coming due in the next few years. These program enhancement proposals are currently in Senate and House legislation. The refinance program is not yet available.
We would say now is the ideal time to start a business. We'd love to see Indianapolis and businesses everywhere taking advantage of these low rates and other opportunities. And we'll be here to assist in developing your financial model, build a business plan and a go to market strategy so you're prepared to visit the financial institution down the street and secure bank financing for your startup.
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