• The July effective interest rate for a 20 year 504 loan is 4.76%, and the rate for a 10 year 504 loan is 4.50%
  • Clint Shiflet, Senior VP & Area Manager at Idaho Central Credit Union in Meridian, named the 2016 SBA 504 Lender of the Year. Congratulations and thank you, Clint!
  • IDAHO CENTRAL CREDIT UNION was named the 2016 SBA 504 Financial Institution of the Year. "Thank you", Idaho Central Credit Union for all you do to help businesses grow!
  • SBA 504 loans approved during FY2016 now how lower fees! The "up front" SBA Guarantee Fee has been reduced from 0.5% to zero. The ongoing SBA Guarantee Fee (paid annually) is reduced from 0.9375%, or 93.75 basis points per annum, to 0.914% or 91.4 basis points per annum of the outstanding balance of the loan. The total administrative costs lowered from 2.65% to 2.15%.
    

Capital Matrix | Growing Communities

Capital Matrix recently awarded a grant in the amount of $150,000 to Missoula-based Montana & Idaho Community Development Corp (MICDC). The lending funds are dedicated to loans for nearly bankable Idaho businesses. Capital Matrix is excited to partner with MICDC to help increase the flow of capital to small business owners in Idaho, which plays an important part in creating vibrant economies.

MICDC, established in 1986, started lending in Idaho in late 2015. Idaho now makes up 52 percent of MICDC loan volume, and that's expected to increase each year.

Since 2015, MICDC has lent to numerous Idaho businesses, including high-profile tenants, Richard's Restaurant, Zeppole Baking Co., and Telaya Wine Co. The Idaho loans totaled $5.1 million in 2016. The new loan fund will expand MICDC's ability to lend to even more small businesses.

MICDC loans are designed for small business owners to purchase real estate, equipment, or inventory; to acquire and existing business; or for start-up costs, remodeling or working 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2013 Capital Matrix - Web design by IntegriNet Solutions