{"id":14504,"date":"2020-06-16T06:52:07","date_gmt":"2020-06-16T13:52:07","guid":{"rendered":"https:\/\/www.tmcfinancing.com\/?p=14504"},"modified":"2022-01-28T12:10:53","modified_gmt":"2022-01-28T20:10:53","slug":"alameda_marina_refinances","status":"publish","type":"post","link":"https:\/\/www.tmcfinancing.com\/es\/alameda_marina_refinances\/","title":{"rendered":"Alameda Marina se refinancia con el pr\u00e9stamo 504 de la SBA para acceder a efectivo y pagos mensuales m\u00e1s bajos"},"content":{"rendered":"

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Mariner Square is the first marina in Alameda as you enter the Oakland\/Alameda Estuary. Not only is it a storage facility and a boat valet on the Bay, it is home to a small community of boaters in the Bay Area. These boaters trust Mariner Square to care for their boats as they were their own, and that is what Mariner Square does.<\/p>\n

When the owner of Mariner Square learned of the SBA 504 Refinance Program<\/a> through his banker, Vicente Lopez<\/a> with First Bank, he realized it was an opportunity he could not pass up. Rates were at record lows and the opportunity for cash out would help his business thrive.<\/p>\n

\u201cThe SBA 504 Refinance Program provides an easy solution to save businesses thousands on their monthly occupancy costs and provides a fantastic opportunity to access cash trapped in equity,\u201d explains Kurt Chambliss<\/a>, executive vice president of TMC Financing who facilitated the SBA loan. \u201cIt was a perfect solution for Mariner Square.\u201d<\/p>\n

When refinancing with an SBA 504 loan, business owners can obtain up to 20 percent of the appraised value of the property in cash out. The cash can be used on qualified business expenses, which include salaries, rent, utilities, inventory or other expenses of the business.<\/p>\n

\u201cThe cash out was one of the most appealing features of the program,\u201d states the owner of Mariner Square. \u201cI was able to cover inventory, utilities, payroll, and most importantly, just get some breathing room. I can look 10 years down the road and know I will still be comfortable. The cash will also help us expand.<\/p>\n

\u201cThe interest rate was also a huge attraction. We previously had a high, compound rate<\/a> and now we\u2019re fixed for 25 years at a really low rate! What a difference that makes.\u201d<\/p>\n

The SBA 504 Refinance Structure<\/strong><\/p>\n

Business owners can refinance up to 90 percent of the property\u2019s appraised value, 85 percent if the business owner is getting cash out. The equity contribution from the business owner can be taken from the subject property, without any additional injection.<\/p>\n

The 504 refinance loan is structured like the traditional 504 loan, consisting of three parts:<\/p>\n