Commercial Loans Blog

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Under the recent Small Business Jobs Act $15 billion is now available for debt refinance under the 504 program. It took a while for the SBA to implement it but the regs are now out. This is huge for those doing 504 loans because it allows refinancing up to 90%! To be eligible, the property must be owner occupied, (at least 51%), and have a non-SBA loan coming due before 1/1/2013. For properties that have lost value over the last few years, this loan can be a HUGE!
Many property owners are getting calls from their current bank lenders saying, due to lower values and loan cut backs, they will not “roll over” their existing loan. The new 504 program arrival is a timely answer.
The Commercial marketplace just keeps opening up and, that is great news for commercial brokers. It is also good news for the economy. As businesses get capital, expansion and, job creation happens. It is a neat time to be in commercial. To find out how you can maximize commercial lending in your area, give us a call today at 866-400-8630.
P.S. Remember, owner occupied businesses with balloon notes coming due by 2012 can now refinance up to 90%! This is HUGE for commercial RE owners who have seen properties fall in value over the last couple of years. To find out more, call today at 866-400-8630.
Wishing you the Best,
Karen Schimpf
Phone: 512-650-8630
Posted by Karen Schimpf on March 29th, 2011 5:19 PMPost a Comment (0)
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