SBA 504 Loan Refinancing
With the SBA 504 loan refinance program, you can refinance debt you previously incurred for commercial real estate and fixed asset projects. Offered at below-market rates, this program also allows you to cash out up to 20% of the value of the property for working capital needs.
Program Benefits
Below-market, fixed interest rates
Low owner equity requirements
Long-term repayment schedules
Option to convert equity to working capital
Eligibility Requirements
To determine if you qualify for refinancing through the SBA, these 6 requirements must be met:
The commercial mortgage/deed of trust debt to be refinanced must be at least two years old.
The loan (or loans—can be more than one eligible loan) being refinanced must not have any late payments in the previous 12 months and evidence of such must be presented.
The subject property must be a minimum 51% owner occupied and meet all other eligibility requirements of the SBA 504 program.
For refinance-only projects, the maximum LTV is 90%.
Cash-out refinancing is permitted to cover most eligible business operating expenses.
Existing "government backed" loans, such as 504's, 7(a)'s or USDA loans, cannot be refinanced under this new program. Only conventionally financed commercial mortgages/deeds of trust are eligible.
Kind Words
“I loved working with IBFS. I had looked at over five other places in order to try and get a loan and was getting discouraged. Then I gave IBFS a call. They were extremely helpful and gave me good, positive advice from the beginning. Everyone that I worked with was very responsive, followed up quickly, and thoroughly answered all of my questions throughout the process. All of these qualities are critical when trying to obtain a loan, and IBFS understands that. While they’re great at what they do professionally, I also loved working with IBFS because of how friendly and considerate they are. I would recommend IBFS to anyone looking to procure a loan and grow their small business.”
Vicky MedinaUltimate Granite
“I had a need but didn’t know how to address the questions necessary in order to take the next steps to grow my business. What IBFS really excels in is helping the small business person understand and evaluate the data to then help fulfill a growth opportunity. They took my dream and the corresponding business information and put it into a package that I could sell. IBFS’s help throughout the entire process allowed me to achieve the goals and dream I had for my small business.”
Terry AtwaterEnova Investments, LLC
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