Call us to Talk SBA 504 Debt Refinance

We are ready to take your calls and discuss the permanent SBA 504 Refinance Program.  We have been the top CDC in New England for years and have the experience to help you creatively structure your deal to meet your organization’s goals, and to put your customer in charge of their destiny to grow their business.

Here are the highlights:

  • Up to 90% LTV for real estate and equipment debt incurred at least 2 years prior to application
  • 75% LTV if other business expenses are rolled into the refinance project
  • Loan (or loans – there can be more than one) to be refinanced must be current for the prior 12 months and evidence must be presented at application
  • Ownership of the business must be the same for the previous 2 years
  • Occupancy must be 51% at time of application and meet all other SBA 504 eligibility requirements
  • Approval can be made subject to appraisal
  • No SBA or other Federal guaranty debt can be refinanced under this program

SBA Administrator Maria Contreras-Sweet said at the announcement May 26, “The 504 loan program with its long term fixed-rate can help refinance debt from adjustable rate loans with significant savings to borrowers.  Paying off existing loans with a new loan at a lower cost can help increase cash flow, which can be especially helpful in a resurgent economy.”

Contact us today.