Small Business Lending Insider

October 2018
Latest Rates


SBA 504 10-yr 3.14% 5.25% 5.36% October 2018
SBA 504 20-yr 3.77% 5.49% 5.54% October 2018
SBA 504 25-yr 3.89% 5.53% 5.58% October 2018
SEDA-COG PIDA 4.00% N/A N/A Through Dec. 2018
SEDA-COG RLF 4.50% N/A N/A Through Dec. 2018
Recent Loan Activity
The following loans were recently approved by SEDA-COG*:
  • $55,000 SBA 504 loan to a Centre County funeral home
  • $351,000 SBA 504 and $117,000 SEDA-COG TEAM loan to an Erie County motel
  • Two $18,000 internal revolving loan funds to a Northumberland County manufacturer
  • $400,000 PIDA loan to a Northumberland County farmer
  • $400,000 PIDA loan to a Snyder County farmer
  • $400,000 PIDA loan to a Columbia County manufacturer
  • $400,000 PIDA loan to a Northumberland County farmer
* Approvals are contingent upon final funding source approval.
Loan Program Highlight - USDA IRP
The SEDA-COG USDA Intermediary Relending Program (IRP) is a revolving loan fund available to for-profit small businesses that have less than 100 employees.  Funds can be used for land acquisition, site improvements, acquisition of existing building, building renovation, leasehold improvements, new construction, machinery & equipment, working capital, refinancing (restrictions apply), and certain soft costs.

Loans can be made up to $250,000 or 50% of eligible costs, whichever is less.

Loans are available to businesses within SEDA-COG's core 11-County region.

Click here for more information...
Provide Options to Your Customers
We've spoken with several lenders over the past couple of months and one topic that has been mentioned recently is: Options.  Small business owners are becoming more knowledgeable when it comes to financing for their business and are also being more aggressive in seeking out the best deal from competing lenders.  For those who just offer a conventional financing scenario - for example, 80% financing on a real estate deal, it usually comes down to getting beat up on the rate you are offering or the length of the fixed rate period.  If you are in a very competitive marketplace for deals, there is usually at least one lender out there who is willing to undercut you on your best rate.

So how can you compete in the battle of interest rates?  Provide your customer with options.  There's nothing wrong with leading with your conventional package.  But showing other potential options - SBA 504 and even 7(a) - can go a long way in getting the deal.

Click here to

Life Insurance
With the SBA focusing more on when life insurance is required for 504 loans, the timing of obtaining a policy and getting a proper assignment to meet SBA's requirements is important to closing a loan.  Below is information on a company that works to expedite the life insurance process.

About Us

SEDA-COG's Business Finance Department serves the entire state of Pennsylvania and  rural counties in Maryland  for the   SBA 504 Program .
For PIDA and SEDA-COG loans, we cover  an 11-county area in central Pennsylvania including Centre, Clinton, Columbia, Juniata, Lycoming, Mifflin, Montour, Northumberland, Perry, Snyder, and Union counties.

For more information, visit or

Contact our Business Finance staff today!
Senior Relationship Manager II
P: 570-524-4491
C: 570-850-0195
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Program Director
P: 570-524-4491
C: 570-394-7526
View our profile on LinkedIn

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