In the waning days of the Trump administration, Congress passed another round of federal relief. Many provisions of the $900 billion COVID-19 relief package were aimed at helping small businesses. The legislation also included several temporary enhancements to one of the more effective loan programs from the U.S. Small Business Administration (SBA): the CDC/504 loan.
These government-backed loans have played a crucial role in helping small businesses recover during the health crisis. The program offers affordable commercial mortgages with a downpayment of as little as 10% and historically low interest rates that are fixed for up to 25 years.
In today’s economy, small businesses need capital and stability. The recently passed legislation has made it even more attractive to refinance into a low-interest, high-leverage CDC/504 loan, which also can generate cash for your client’s business.