SBA 504 Program Ending September 27, Contact Cheryl Hayes for Details!

by Proforma Construction Inc, July 27, 2012

There was a short term program initiated by the SBA about 2 years ago that enables owner/users with real estate financed under conventional loan terms to refinance those loans into the SBA 504 program at up to 90% LTV.  This is significant because the SBA offers very attractive long term fixed rates and many buildings do not qualify for conventional financing at the more conservative 65-75% LTV limitations.

Also for those with adequate equity in their buildings, the program allows for some cash out.  The program expires soon, so loans need to be approved by September 27,2012.  For those with existing 504 loan structures, we can refinance the first and have the SBA resubordinate into second position.

Through California Bank & Trusts competitive financing options I have refinanced 7 loans this year totaling about $9M in loan volume saving 2-3% in interest rate on each.  On these loans collectively these customers are saving about $25,000 per month in payments.

This is a big opportunity for owner occupants!


http://proformaconstructioncalifornia.comCheryl Hayes
Vice President
SBA Loan Originations
California Bank & Trust
Office 510.627.7974
Cell 510.507.1837
Fax 877-843-0860

300 Lakeside Dr, 8th Floor
Mail Stop OK – KC8 – 7892
Oakland, CA 94612