Rate information: 20-year rates increased 30 basis points. The 20-year fixed rate is now 4.94%. The 10-year rate remained at 4.64%. SBA 504 rates have been below 5.0% for 43 months in a row. This is the first-time rates have been above 4.70% in over 3 years. Overall rates are still affordable. In 2018 we should expect rates to increase modestly due to inflation related to the expected increase material costs because of the reconstruction due to Hurricanes and Fires. Additionally, the expected cost of labor increasing with California's higher minimum wage and the increase in the unemployment tax and labor unions asking for more raises will add to inflation.
We had 3 SBA approvals last month. Last year's top lender Bank of the Sierra had their first approval of the year; as did California Bank & Trust, Chase Bank and Premier Valley Bank. We currently have 6 banks with one approval each. Thank you to all our participating banks for your referrals.
New information the 504 Program may be adding a 25-year debenture: The regs still have not been published for the New 25-year debenture, they are expected out anytime. We are still expecting implementation by the end of this quarter and applications being accepted by the end of this spring. This will give us 10-year, 20-year and 25-year debenture terms. We do not know yet if there will a different rate charged for the 25-year term. More details to follow later this year.
Real estate inventories continue to be very low in all areas for commercial properties, especially for owner-users. Smaller functional properties are very scarce. The SBA 504 Real Estate Program continues to be a great way to finance the acquisition and/or construction commercial real estate for owner-users. 504 loans can be used to finance up to 90% of the cost of your real estate project.
For additional information about our loan programs please contact Cal Cain at (559) 227-1158
For additional information about our loan programs please contact Cal Cain at (559) 227-1158
2017 Cen Cal Award Recipients
2017 Business of the year - Central Valley Trailer Repair
Michael and Christine Showmake
2017 Lender of the year - Central Valley Community Bank
Dorothy Thomas and Gary Quisenberry
2017 Lender of the year - Bank of the Sierra
Dustin Oliver and Michael Olague
2017 Broker of the year - Brandon Lamonica
Brandon Lamonica - Fortune Associates
Thank you to our event speaker Lee Ann Eager!
Fresno Economic Development Corporation Staff
Wil Oliver, Lee Ann Eager (President/CEO) and Nikki Newsome
.
Congratulations, Brittany!
Cen Cal Business Finance Recent Funded Projects
Almond Processing Facility
Madera, CA
New Construction
90,000 sq. ft. facility
TOTAL PROJECT
FINANCING
$8,500,000
Cen Cal Business Finance Group - Participating Banks
2012 - February 2018
Loan Approvals by Fiscal year - Participating Banks
Lender Name
2012
2013
2014
2015
2016
2017
2018
Bank of America
Bank of the Sierra
1
2
5
4
1
Bank of the West
2
1
3
3
BBVA Compass
1
2
1
California Bank & Trust
1
2
1
1
Central Valley Community Bank
2
1
1
1
4
1
Citizens Business Bank
1
1
Community West Bank
1
1
Fresno First Bank
1
1
1
4
3
JPMorgan Chase Bank, NA
1
2
1
1
Premier Valley Bank
10
4
4
7
5
1
1
Umpqua
3
Security First Bank
1
1
Suncrest Bank
1
Tri Counties Bank
2
2
U.S. Bank N.A.
1
1
1
Union Bank, N.A
2
1
1
2
United Security Bank
Valley Business Bank
1
1
1
Wells Fargo Bank, N.A.
1
1
1
1
Westamerica Bank
1
3
3
2
1
Zions First National Bank
1
Founders Community Bank
1
Fiscal Year Totals
21
16
11
28
26
25
6
Annual Leaders are in Bold
Buy Local
Cen Cal Business Finance Group
LOCAL experts helping LOCALbusinesses change the LOCALeconomy.
Be sure to call us if we can assist you in any way.
