The recent Great Recession produced numerous programs designed to assist the small business sector – with varying degrees of success. At least two of those efforts are showing increasing interest from lenders and small businesses alike. The SBA 504 Debt Refi program is demonstrating higher volume every month. The program provides a unique opportunity for small businesses with conventional mortgage debt to refinance and even secure long term working capital so don’t miss out as the program is slated to expire this September.
Many lenders have cut back on making small loans – $250,000 and under – especially to younger small businesses. Under the SBA’s Community Advantage mission-driven lenders like CDC Small Business Finance, these loans are now available. You can keep your relationship with your bank and still access the loan that you need. Contact CDC Small Business Finance for more information and spread the word!