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Pre-Payments
SBA 504 financing includes a repurchase premium should the loan be prepaid during the first half of the term. The repurchase price shall be an amount equal to the outstanding principal balance of the debenture, plus interest accrued and unpaid thereon to the repurchase date, plus a repurchase premium, if any, determined as follows:
If you have an SBA 504 Loan:
To insure the payoff of your loan is accomplished smoothly, please keep this information in mind:
If you are considering a prepayment of your loan, PLEASE CALL MEGAN MELICH at
303-861-4100 X202 IMMEDIATELY.
Preferred must have a 45 day written notice that the loan is going to prepay.
SBA 504 loans can only be pre-paid on the 3rd Thursday of every month.
Prepayment premiums may apply. Premium levels decline every loan anniversary date and are eliminated after the loan is over half way matured (i.e.: 20-year loan: first 10 years there is a prepayment premium, after 10 years it drops off).
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