Refinance AND Expand with the 504
If you are considering an expansion of your business that involves any of the following:
- buying a building
- constructing a building
- expanding your existing building
- acquiring land
- purchasing expensive equipment
Then you may be able to do the expansion while refinancing some of your existing debt using the little known “permanent” refinance provision of the SBA 504 program.
Like any type of commercial funding, there are numerous eligibility criteria, but the key factor for this program is that you can only refinance 1$ of current debt for every $2 of expansion COST.
This program could be excellent for businesses opening another location or buying or constructing a retail space to compliment their manufacturing operations.
It could also be ideal for many industries where it is common to have multiple locations, for instance:
- day cares
- car washes
- mini-storage facilities
- retail businesses
- gas stations
- convenience stores
- many others
Many business owners assumed that when the “temporary” 504 refinance program expired last Sept that they missed their chance at getting low rate, long term financing, but this program may allow those with expansion plans to kill two birds with one stone by refinancing their existing debt while expanding their operations.
Please click here for more info or feel free to e-mail me at jking (at) greencommercialcapital (dot) com for more info.