A Free Small Business Workshop on SBA’s New 504 Refinancing Program

January 01, 1970 00:00 AM
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The Certified Development Company (CDC)/504 loan program is a long-term financing tool, designed to encourage economic development within a community. The 504 Program accomplishes this by providing small businesses with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization.

Market research shows that a large percentage of commercial mortgages outstanding are set to mature within the next few years, particularly those held by community banks. As real estate values have declined, however, even small businesses that are performing well and making their payments on time can have a hard time refinancing these loans and may need to restructure their debt.

Under the Small Business Jobs Act, the SBA has implemented a temporary program allowing small businesses to refinance eligible fixed assets in its 504 program without requirement of an expansion, as is the case with typical 504 loans. This program will provide small businesses the opportunity to lock in long-term, stable financing, as well as protect jobs.

At this workshop, we will explain how this new, temporary program works and how it may be able to help your business.

Register online at http://events.sba.gov/eventmanagement/eventlisting.aspx?state=mo or contact Bob Newman at (573) 256-1794 or robert.newman@sba.gov.

For more information on all of SBA’s programs and services, visit http://www.sba.gov.

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