Newtek Business Lending

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.

Click Here to Connect

Contact:
James J. Gillis Jr.
Office: 212-356-9500 Ext 10171
Cell: 847-400-4662
JGillis@NewtekOne.com