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The original item was published from 8/5/2021 10:11:53 AM to 9/11/2021 12:00:02 AM.
Economic & Community Development News
Posted on: August 5, 2021
[ARCHIVED] SBA Eases Regulations on 504 Refinance
CONFUSED ABOUT SBA 504 REFINANCE OPTIONS?
We Can Help! The SBA recently announced changes to the 504 loan program that make it easier to refinance debt, enabling more business owners to benefit from historically low 504 loan rates. Email Us: mailto:email@example.com
Eligible debt can be refinanced to:
- Improve cash flow
- Put equity to work by expanding or remodeling a building
- Turn equity into cash for working capital
The SBA is committed to helping small businesses and has made 504 refinance a permanent addition to the 504 loan program.
A few highlights of the eased regulations include:
- SBA 7A debt and other government guaranteed debt can now be refinanced with a 504 loan
- Debt being refinanced need only be 6 months old
- More favorable loan-to-value requirement
As with all SBA loan programs, it's best to work with specialists that have the expertise to swiftly and smoothly navigate the 504 lending process. To find out how this loan program can benefit you and your clients, contact one of our Loan Officers:
Buck Harris (401) 406-7282 x128 or Rich Evans (203) 776-6172 x132