SBA Section 504 Refinancing Program

Debt Refinancing under the 504 loan program is back!

Here are a few things you NEED TO KNOW about the debt refinance program.

  • Commercial real estate loans must be in place for a minimum of two years and the borrower must be current on all loan payments for 12 months.
  • The appraisal must be dated within the last 12 months of the application date.
  • Financing up to 90% of the value is allowed and the authorization lasts six months.
  • If the debt to be refinanced is current a government guaranteed loan (current 504 loan, SBA 7a or USDA loan), the loan cannot be refinanced under the 504 loan program.
  • Cash out can only be used for business operations expenses incurred within 18 months and cannot be more than 25% of the total loan project with a loan to value of 85%.
    • *Renovations cannot be included in the loan request, however repairs are eligible.
Need Help or Have Questions? Toll Free: (800) 850-2504

Southwest Florida
Chelsea LaRue: (727) 415-2185

South Florida
Beth Herdegen: (305) 331-7085
North & Central Florida
Patty Ingram: (352) 857-6398
Community Advantage Program Manager
Michael Frid: (727) 723-4003