|  Business Lending News
October 2017
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| October 2017 Fixed Interest Rates |
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SBA 504 20-Yr Rate
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4.63% Fixed
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Owner-Occupied commercial real estate, equipment and machinery |
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SBA 504 10-Yr Rate
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4.68% Fixed
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Equipment and machinery |
SBA 504 20-Yr REFi Rate
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4.14% Fixed
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Equipment and machinery, working capital, inventory, and tenant improvements |
City Revolving Loan Fund Rate
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6.50% Fixed
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Equipment and machinery, working capital, inventory, and tenant improvements
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First, thank you to all of our Banking Partners for another successful year. We finished our fiscal year with 25 loan approvals, which matches our total for last year.
We had 1 SBA approval last month with Bank of the Sierra. We ended our year with Bank of the Sierra and Central Valley Community Bank tied with 4 approvals each for the year. Congratulations to Dustin Oliver and Dorothy Thomas. We have a tie for second place with Fresno First Bank and Umpqua Bank with 3 approvals this year. Thank you again to all of our participating banks for your referrals.
Rates Increased for the last month of the fiscal year.
Rate information: 20-year rates increased by 26 basis points. The 20-year fixed rate is now 4.63%. The 10-year rate is at 4.68%. SBA 504 rates have been below 5.0% for 38 months in a row, that's over 3 years. The 10-year rate remained at 4.14%. Even though rates increased this month they are still low. Fed Chair Janet Yellen has indicated that we should expect to see one more modest rate increase by the end of the year, but not much after that. This month's increase may have occurred in anticipation of the Fed's possible increase
New information the 504 Program may be adding a 25 year debenture:
The regs for the 25-year debenture should be published by December 29, 2017 and the program should be implemented and accepting applications by March 30, 2018. This would 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 offices are scarce. The SBA 504 Real Estate Advantage 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
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Happy Retirement to Carlos Mendoza
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Carlos Mendoza, District Director
Fresno District Office
U.S. Small Business Administration
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Well he said he was going to do it and he really is going to do it, our friend Carlos Mendoza is retiring the first week in November. Carlos has over 40 years of Federal service in the field of business, housing, and community development. He has been responsible for the delivery of SBA programs and services in Central California. We thank Carlos for his commitment to serving our small business community and Cen Cal Business Finance Group. We wish Carlos many years of good health and happiness in his retirement year.
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Former Cen Cal intern James Bitter Joins Fortune Associates
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Congratulation to our former intern, James Bitter on his new job as a commercial real estate broker with Fortune Associates in Fresno, CA. James is a product of the Central Valley. He attended Clovis West High School where he played football, soccer, and baseball. He went on to continue his passions of soccer and baseball at Fresno City College. James then transferred to Fresno State in 2013 where he graduated with a Business Marketing degree in 2015. He discovered a passion for real estate while working at Cen Cal Business Finance.
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Welcome Our New Employee
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| Alishia Miles Assistant Loan Processor |
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Cen Cal would like to welcome our newest employee, Alishia Miles. Alishia is a Fresno native, who recently returned to the Valley with her family. Alishia's husband is a recruiter for the U.S. Army and they currently stationed here in the Valley. Alishia is new to lending, but she is learning very fast and she is already a valuable teammate for us.
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Welcome Our New Intern from Fresno State
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Matt Cass
Fresno State Intern
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Cen Cal would like to welcome volunteer Fresno State Intern, Matt Kass. Matt will be with Cen Cal for the Fall Semester. He is a Senior Business major at Fresno State. Matt is a Valley native and he is the son of Chuck and Anne Kass. We are proud to have Matt with us for the semester.
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Congratulations, Brittany!
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| Professional Office Fresno |
| Purchase & Construction New Office TOTAL PROJECT FINANCING $3,100,000 |
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| Light industrial Building Central Coast |
| Purchase New Building TOTAL PROJECT FINANCING $1,400,000 |
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Loan Approvals by Fiscal year - Participating Banks
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Lender Name
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2012
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2013
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2014
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2015
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2016
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2017
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Bank of America
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Bank of the Sierra
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1
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2
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5
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4
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Bank of the West
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2
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1
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3
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3
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BBVA Compass
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1
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2
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1
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California Bank & Trust
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1
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2
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1
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Central Valley Community Bank
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2
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1
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1
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1
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4
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Citizens Business Bank
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1
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Community West Bank
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1
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1
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Fresno First Bank
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1
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1
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1
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4 |
3
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JPMorgan Chase Bank, NA
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1
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2
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1
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Premier Valley Bank
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10
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4
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4
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7
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5
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1
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Umpqua
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3
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Security First Bank
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1
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1
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Suncrest Bank
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1
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Tri Counties Bank
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2
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2
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U.S. Bank N.A.
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1
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1
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1 |
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Union Bank, N.A
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2
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1
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1
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2
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United Security Bank
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Valley Business Bank
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1
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1 |
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1
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Wells Fargo Bank, N.A.
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1
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1
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1
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1
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Westamerica Bank
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1
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3
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3
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2
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1
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Zions First National Bank
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1
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Founders Community Bank
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1
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Fiscal Year Totals
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21
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16
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11
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28
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26
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25
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Annual Leaders are in Bold
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| Buy Local |
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Cen Cal Business Finance Group
LOCAL
experts helping
LOCAL
businesses change the
LOCAL
economy.
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Be sure to call us if we can assist you in any way.
Cal Cain
SVP/Senior Loan Officer
Cen Cal Business Finance Group
(559) 227-1158
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