SBA restarts 504 refinance for business

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Southern Nevada small-business owners facing balloon payments on their real estate loans are about to get some much-needed relief.

The Small Business Administration, with the approval of Congress, has reinstated a program allowing business borrowers to refinance loans for their buildings or equipment at lower interest rates. That enables the businesses to save thousands of dollars a month and give them additional capital.

About 50 Nevada businesses and 2,700 nationally took advantage of the loan program when it started in 2011, and ...

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SBA 504 Refinance Program Made Permanent

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SBA 504 Refinance Program Designed to Help Small Businesses Grow and Create Jobs

Eligible small business owners now have more options to refinance eligible fixed assets and business expenses through the Small Business Administration (SBA) 504 Refinance Program.  SBA Administrator Maria Contreras-Sweet made the program permanent through an Interim Final Rule in The Federal Register released May 26, 2016. This change will help small business owners ease their financial burdens and create incentives for potential expansion and further job creation.

In ...

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SBA 504 Refinance Program Signed Into Law

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NSDC is pleased to announce that a permanent SBA 504 refinance program has been signed into law.

The provision was placed into the omnibus bill that will fund the government for the rest of FY 2016. In a summary of the bill by the U.S. House Appropriations Committee it says that the agreement “…includes a provision to reauthorize the 504 refinance program at $7.5 billion to help business owners refinance their commercial mortgages…”

It will take a few more months for this ...

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