Small business owners are able to refinance conventional commercial real estate loans with the attractive rates and terms available through SBA 504 loan program.
- The SBA is accepting applications on June 24th, 2016
- Multiple commercial loans can be refinanced
- Refinancing available for up to 90% LTV (or 75% LTV with cash out)
- 20-year, below-market, fixed interest rate for the SBA 504 loan
Here are some of the eligibility requirements for the program:
- The subject property must be a minimum 51% owner occupied and meet all other eligibility requirements of the SBA 504 program
- SBA 504 Refinance can only be used to refinance conventional financing
- The existing loan and business must be at least 2 years old
- At least 85% of the existing loan must have been for 504 eligible purchases
- Loan(s) to be refinanced must be current for at least the past 12 months
Let us put our experience and expertise to work for you. Call us (310) 356-6500