Recently, we’ve received more questions regarding the eligibility of financing a change of ownership (the buyout of a business partner) under the SBA 504 Loan Program. The SBA 504 was designed for small business owners to finance commercial real estate and...
SBA published in the Federal Register a Final Rule on the SBA 504 Refinance Program that made the program easier to use. The effective date of the Final Rule and changes is November 13, 2023. SBA 504 Refinance Improvements Include The program is able to...
The SBA 504 pre-payment penalties are often misunderstood by both borrowers and industry professionals. A question we often get is: “Are there pre-payment penalties with SBA 504 Loans”? The answer is yes, but it’s not as bad as you might think....
New lower fees for SBA 504 loan in Fiscal Year 2024 apply to loans approved October 1, 2023, through September 30, 2024, and include a lower annual service fee and the continuation of 0% upfront guaranty fee. SBA 504 Loans The SBA 504 Loan Program is...
Did you know, it is estimated that $900B in CRE loans will come due by the end of 2024?! With interest rates on the rise, and the prime rate currently sitting at 8.5%, your financial plans should include refinancing with the 504’s below-market, long-term fixed...
