SBA 504 Refinance Loan Program

The SBA 504 Refinane Program has finally been implemented. It gives commercial real estate owners with maturing mortgages the opportunity to refinance their debt with the SBA 504 Loan. This unprecedented allowance, is a great opportunity for borrowers who qualify.

Unlike the traditional SBA 504 Loan Program, a business does not have to expand to qualify. Borrowers will be able to finance the lesser of 90% of the current appraised value or 100% of the current mortgage.

Many businesses can meet the new requirements. For many, this 504 refinancing program will be the debt restructuring opportunity that they have been looking for...

SBA 504 Refinance Loan Program Highlights:

	Current Loan Maturing Before December 31, 2012 (**extensions expected)
	Commercial Debt Must Be 2 Years+ Outstanding
	Must Have 2 Years In Business
	Must Be Current On Debt
	Loan Requests From $500K - $12 Million
	90% LTV Max (Lender debt forgiveness allowed)
	Click here to get started with our 504 Refinance Quick App!

SBA 504 Refinance Property Types Considered:

	Owner-Occupied Office Bldgs.		Hotel / Motel
	Medical/Dental/Veterinary Offices		Self-Storage
	Owner-Occupied Retail Bldgs.		Restaurants
	Assisted Living Facilities		Car Wash
	Gas Stations & C-Stores		Office Condo
	Child & Adult Day Care Centers		Special Purpose

Guidelines:

Use of Proceeds

Commercial Real estate - refinance of owner-occupied commercial real estate


Standard Loan Structure

50% financing - First mortgage (up to $6.5 million)
40% financing - SBA 504 second mortgage (SBA Certified Development Corporation provides up to $5 million)
10% minimum equity from the borrower

Terms

First Mortgage
25 years, fully amortized
Fixed, floating and adjustable rates available
Competitive fee structure
Prepayment penalty applies & is set based on various factors

Second Mortgage
20 year fixed term
Fixed rate is determined at SBA-guaranteed 504 debenture sale
Fees set by CDC
Prepayment penalty for initial 10 years, none after the end of year 10

Loan Proposal Issued In 24-48 Hours!

Get started with our SBA Loan Quick App Here!