Refinancing Owner-Occupied Commercial Real Estate--What's New! - Details:
Come hear from the experts about exciting changes to the Small Business Administration’s (SBA’s) 504 program. Some of these changes include the ability to refinance an existing owner-occupied commercial real estate loan at 20 year low fixed rates and get working capital on the same terms. That’s right, 20 year terms for working capital! This program only lasts until October 27, 2012 and is perfect for business owners that have equity in their property, but are having trouble getting working capital.
Also learn about SBA’s permanent 504 loans that allow business owners to buy, build or renovate commercial real estate for purposes of their business with as little as 10 % equity. This program marries the full faith and credit of the US government with the savvy of Wall Street – all to the benefit of businesses on Main Street.
Financing options include the purchase and/or renovation of an existing building; the purchase of land and construction of a new building; the purchase of fixed equipment or machinery and also the refinancing of existing debt when a business is expanding. A simple way to describe an SBA 504 loan is as a mortgage for a small business owner to "purchase a home" for their business.
Panel members will be added when they are confirmed.