Improvements to the SBA 504 Refinance Program
The SBA issued a Policy Notice, effective November 17th 2016, has made it easier for businesses to access additional capital via the SBA 504 Refinance Program.
The most significant changes to the SBA 504 Refinance program are:
1) Loan-to-Value Limitation for the Financing of “Business Operating Expenses” increased from 75% LTV to 85% LTV.
2) Minor changes in ownership are allowed. Previously SBA did not allow any changes to the ownership of the business during the prior two years. Now, any business who has operated for 2 or more years can qualify for an SBA 504 Refinance loan.
Please contact me directly with any questions or to learn more about the changes to the SBA 504 Refinance Program.