A 25-year SBA 504 debenture is now available to borrowers to help lower payments and improve cash flow. Starting April 2, 2018, SBA is able to approve a 25-year debenture and the first 25-year debentures will be funded starting in July of 2018. The voluntary prepayment schedule will remain at 10 years as is currently offered with the 20-year debentures. The interest rate on the 25-year debentures is estimated to be approximately 35 basis above the 20 year debenture rate. We look forward to providing you new details as they are released.