What is the 504 Refinance Product?
The 504 Refinance product is now available – applications are being taken immediately.
The interest rate on the refinancing product is 1.15 basis points higher than the traditional 504 loan.
The Small Business Administration (SBA) 504 refinance product is a great financing product to assist small businesses in providing permanent long term financing on their owner-occupied buildings.
- Provide 90% of current value financing on owner-occupied buildings
- The 504 loan has a fixed interest rate of either 10, 20, or 25 years
- SBA loan application is done by Heartland Business Capital
- No balloons on the financing
- Can refinance both institutional and seller / contract of deed debt
- All fees and prepayment fees on existing debt can be included