SBA Opens Up Refinancing, Questions from Experts
by Christina Lee on July 1st, 2009
The latest initiative from the Small Business Administration and President Obama’s stimulus plan has experts wondering whether changes meant to help small businesses refinance will be beneficial at this time. The administration’s Certified Development Company (504) lending program traditionally provides long-term, fixed-rate financing for assets like real estate, heavy machinery or other improvements. But as of last Wednesday, it now permanently allows small business owners to refinance such debt, as long as it is used for expansion purposes. “This is one more piece of the Recovery Act that is going to have a direct impact and put more money in... Read more »