Refinance Your Standard Real Estate Loan via the SBA 504 Loan
Anyone who’s ever purchased property knows that it’s one of the bigger investments you’ll probably make. To lighten the financial load, is it possible to refinance the loan you took out to pay for it? The answer is yes! The SBA 504 refinance program is a loan restructuring system that lets borrowers refinance existing debt at lower than market rates. This is accomplished by offering lower fixed rate solutions rather than the adjustable systems with higher rates common to traditional bank loans. This allows business owners to both save and have the necessary funds to grow their businesses. The SBA developed the refinancing program in support of its mission to spark growth in local communities. They realize that being able to consolidate and pay off existing debt at a lower fixed rate has a far-reaching impact, not just for the business owner but also for the local economy. The SBA 504 refinance loan program can be used in several ways, including refinancing owner-occupied commercial re