SBA 504 Update: Changes allow businesses to refinance existing debt!
The government is doing its best to help the small business owner through the American Recovery and Reinvestment Act of 2009. The changes will allow small businesses to restructure eligible debt to help improve cash flow. The 504 loan program can be used to purchase business real estate or fixed assests, such as heavy equipment or machinery, and expand current projects under construction.
Benefits of SBA 504:
Security of owning own space - investing in yourself
Conserving working capital - 10% Down
Lock in long term fixed rate for a portion of the project
Save Money - Reduced SBA 504 fees as part of the Recovery Act
source: Millie Nuno, Director of Business Development, Union National Bank
847-888-7500, mrnuno@unbelgin.com
Labels: 504 loan program, American Recovery and Reinvestment Act of 2009, Commercial Real Estate, Purchase Business Real Estate, Small Business
posted by VJG @ 11:15 AM
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