Don't Get Locked into a High Rate
Refinance with an SBA 504 Loan NOW
Borrowers with an existing SBA 7a loan are in a unique position to refinance their existing debt with a new SBA 504 loan at a much lower rate. As you probably know the SBA 7a program has a variable rate, usually right below 10%. Under the new guidelines you can be eligible to refinance that existing commercial real estate debt as well as acquire or renovate a commercial building or facility.
This program is open to many types of business and will be available if you meet the following requirements:
- Current on all payments for your current 7a loan
- Wish to refinance commercial real estate, take cash out for working capital or renovate facility
- Your SBA 7a loan was used to purchase commercial real estate
- You have been in business for at least 2 years and have a 7a loan that is at least 6 months old
Benefits to this lending program:
- Lock in from a variable rate to a fixed rate
- Longer amortizations available
- Lower monthly payments at a lower market interest rate
- Increase the value of your business by adding or renovating commercial real-estate
Unsure of this refinance loan is right for your business? Please connect with one of our specialists below by clicking below or give Jim Gillis a call, he has over 30 years of experience with SBA loans and has helped thousands of business owners like yourself.
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