SBA 504 Refinance loans are available for existing businesses and may be used to refinance real estate mortgages that may be coming due. The SBA 504 refinance loan program has been expanded for a few years to give business people and commercial property owners a little breathing room while the banking system and real estate industry recovers from a near collapse.
The SBA 504 refinance loan maximums have been raised. Even the SBA 7(a) loan maximum has been raised. Now the SBA 504 loan can be up to $5 million up from $2 million. The program supports a project total of up to $12.5 million.
The SBA 504 refinance program also makes higher limits available for manufacturing, up to $5.5 million supporting projects up to $13.75 million. Furthermore the program also extends SBA 7(a) loan amounts to a whopping $5 million.
Other great features include: (1.) 90% LTV for the SBA 7(a) loan program; (2.) Reduced fee and elimination of some fees for the SBA 7(a) and SBA 504 refinance loan program; (3.) Expansion of the micro loan program for small business
The SBA 504 refinance loan is great for business owners that own the real estate that they operate their business from ... especially those with loans that are due to mature within the next 6 to 18 months! The standard SBA 7(a) loan and the traditional SBA 504 loan are great for businesses that want to own real estate.
To find out how these special programs can help your business contact Dividend America for a no cost, no pressure consultation. We'll teach you all you need to know about these great programs and help you make the decisions that will keep your business growing!