Beneficial 504 Refinancing
The Small Business Administration (SBA) 504 refinance is the perfect financing option to assist your businesses in providing permanent long term financing on your occupied buildings.
Hassle-free business loans.
latest Guidelines from lenders for the refinance program are below. Please note if you currently have a 504 loan and you are looking to refinance your first mortgage and you have a multi-purpose property you may be eligible to refinance the first into a 25 year fixed rate and you may be able to take cash out. Please contact us at 913-424-7856 for details.
What your eligible for...
- Single purpose or special use properties such as hotels, assisted living, etc are eligible up to 90% LTV even though they would typically require more equity to be eligible for a 504. Other properties such as golf courses or bowling centers may also qualify for 90%.
Use cases...
- 75% of the original debt had to be used to finance real estate and up to 25% of the debt to be refinanced could have been used for other business uses.
Max LTV
- Max LTV is 90% if the refinance includes real estate and equipment debt. If refi includes cash out for “eligible operating expenses,” the max LTV is 75% with business operating expenses not to exceed 25%.
Business must have been in operation for two years.
- Business must have been in operation for two years prior to application date (and cannot have full or partial ownership change).
Our company was founded around one goal: to help package and provide business loans to small, independent business people across various industries.
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