Refinance Existing Loans with the 504 Debt Refinancing Program

The SBA 504 Loan Program was created to provide long-term financing to small businesses for the purchase or improvement of land, buildings and major equipment. The 504 Debt Refinancing Program allows those who already have such debt, through a non-SBA loan, to refinance it into long-term, fixed-rate loans. This program is invaluable to entrepreneurs and small business owners who need to reduce their high-cost debt, including adjustable-rate debt.

504 Debt Refinancing Program Begins June 24th

Excellent news for small business owners from the SBA! The 504 Debt Refinancing Program begins this Friday, June 24th. The 504 Loan Program was created to provide long-term financing to small businesses for the purchase or improvement of land, buildings and major equipment. The Small Business Jobs Act of 2010 authorized the use of the 504 Loan Program to refinance debt where there was no expansion of the business. However, this program expired on September 27, 2012, so news that the SBA reauthorized the Debt Refinancing Program is very welcome indeed.