The SBA recently made some changes to streamline regulations and open to a broader base financing under the SBA 504 loan program. One of the biggest changes has to do with refinancing existing debt, and although it’s not a full reinstatement of the refi program, it’s a significant step forward. The old regulations limited project expenses eligible for SBA 504 Loan Program financing to those incurred within 9 months prior to submitting to the SBA a complete loan application.
The recent change will permit financing of expenses toward a project regardless of when the cost was incurred, so long as the expenses are directly attributable to the project. If expenses were financed as part of the project, the debt to be refinanced must have been short-term debt ("bridge financing") with a term of 3 years or less and directly attributable to the Project.
Although this is not a full reinstatement of the refi program, it does create more options for some borrowers. Please contact us to discuss how we may assist you with long-term, below market, fixed rate financing.
Commercial Lending Pros
Florida Real Estate & Commercial Loans, Inc.
Florida Real Estate & Commercial Loans, Inc.
Tel: 863-299-2929
Visit us at http://CommercialLendingPros.com for more information or submit a loan scenario for pre-approval at http://www.CommercialLendingPros.com/102/325
Contact Us
2 comments:
I had let a couple minor things build up and around last Christmas decided to send the real estate management an email asking whether they could send someone out. A plumber visited me next day.
Hermosa Beach property inspection
If you are looking for SBA loan in any states if USA and Canada then I will recommend you to contact with verified hard money lenders. Hard money lenders are so much popular in USA and Canada. They are lending money based on borrower's property value only. It does not matter if anyone do not have credit and income information also.
Post a Comment