Rate information: Majority of the rates improved this month. The 20-year fixed rate is now 5.254%; the Refinance rate is 5.303% and the 10-year rate to 5.289%. Overall rates are still affordable. We should expect the Fed to raise rates again this year due to inflation related to the expected increase in material costs because of the reconstruction due to Hurricanes and Fires. Additionally, the President's additional tariffs will likely contribute to higher inflation in 2018. And there is pressure from the Labor Market for higher wages.
We currently have 19 loan approvals. Bank of the Sierra, California Bank & Trust, and Chase Bank all lead with 3 approvals. They are followed by 4 banks with 2 approvals each. Central Valley Community Bank, BBVA Compass, Citizens Business Bank, and Fresno First Bank all have 2. Thank you to all our participating banks for your referrals.
The 504 Loan Program Launches its First 25-Year Debenture Sale: The first 25-year debenture gives small businesses more options to secure longer-term loans. 23 loans for $27,536,000 have been funded this month at a rate of 5.316. The new rates for the 25-year are 6 basis points higher than the 20-year. 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
Congratulations, Brittany!
Cen Cal Business Finance Recent Funded Projects
Professional Office
Fresno, CA
Purchase
New Office Building
TOTAL PROJECT
FINANCING
$937,587
Light Industrial Building
Downtown Fresno
Purchase
New Storage & Industrial Building
TOTAL PROJECT
FINANCING
$1,472,800
Cen Cal Business Finance Group - Participating Banks
2012 - July 2018
Loan Approvals by Fiscal year - Participating Banks
Lender Name
2012
2013
2014
2015
2016
2017
2018
Bank of America
1
Bank of the Sierra
1
2
5
4
3
Bank of the West
2
1
3
3
BBVA Compass
1
2
1
2
California Bank & Trust
1
2
1
3
Central Valley Community Bank
2
1
1
1
4
2
Citizens Business Bank
1
2
Community West Bank
1
1
Fresno First Bank
1
1
1
4
3
2
JPMorgan Chase Bank, NA
1
2
1
3
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
19
Annual Leaders are in Bold
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Cen Cal Business Finance Group
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