Looking to Refinance? Do It With a SBA 504!

With all of the recent problems in the real estate and financial markets in recent years, loans today have the lowest rates in decades!  These low rates allow companies to save thousands over the course of their loans.  Because of these low rates, many business owners are looking to refinance their long term loans to take advantage of these rates.

Refinance Your Loan to a SBA 504 with SNL

Recently, it became possible for Security National to offer current business owners the ability to refinance their loans into a SBA 504 loan.  This brings all of the rewards of refinancing and merges them with the great benefits of using a SBA 504.

Does My Loan Qualify?

Your loan will qualify if you meet the following requirements:

• A loan which has not already matured
• The loan must have been current on payments for the last 12 months.
• The existing debt must have been originated no less than two years ago.
• Debt refinance cannot be greater than the outstanding principle balance.
• No refinance of existing SBA ( 504, 7A) or USDA loans.
• 85% or more of the original proceeds being refinanced must have been used for 504-eligible purposes, such as building and land acquisition, expansion, remodeling, etc.
• The 504 refinance cannot be more than 90% of the fair market value, determined by appraisal