Approvals of commercial real estate transactions CAN happen!
Yesterday, a refinance of owner-user commercial real estate was approved!
The refinance will give the borrower an annual savings of over $36,000!
If your current bank is not in a position to offer you a great refinancing solution, please give me a call and let's see what can be done!
Cathie Hendrix
541-749-8838
" The SBA Lady"
Friday, March 11, 2011
Thursday, February 17, 2011
The wait is over. SBA 504 Refinancing
After 5 months of anticipation, we finally know what the "first round" of rules will be to allow refinancing under the SBA 504 program. Lenders are gearing up to handle the volume!
Here are the very basics that a potential applicant should know..
*Your owner/ user commercial real estate note has a maturity date by 12/31/2012.
*Your note has been in place for at least 24 months.
*Your business has been operating more than 24 months (ie no start-ups).
There are several other requirements, that only an EXPERT in SBA Lending can assist an applicant though the process.
In addition to SBA loans, I also have the ability to finance conventional real estate transactions as well.
Call me today if you need assistance with financing commercial real estate!
541-749-8838! The SBA Lady, Cathie Hendrix
Here are the very basics that a potential applicant should know..
*Your owner/ user commercial real estate note has a maturity date by 12/31/2012.
*Your note has been in place for at least 24 months.
*Your business has been operating more than 24 months (ie no start-ups).
There are several other requirements, that only an EXPERT in SBA Lending can assist an applicant though the process.
In addition to SBA loans, I also have the ability to finance conventional real estate transactions as well.
Call me today if you need assistance with financing commercial real estate!
541-749-8838! The SBA Lady, Cathie Hendrix
Thursday, December 23, 2010
SBA Hit and Miss Part 2
Recent policy changes with SBA are a mixed bag of "Hit" and "Miss".
"Hit": SBA at the last moment, approved an extension of the soon expiring fee waivers and higher loan guarantees. The Small Business Jobs Act was to expire 12/31/2010. It has now been extended thru March 4, 2011.
"Miss": What is not "common knowledge", is that the "funds" for the extension will most likely be EXHAUSTED very soon.. most think by 12/31/10! So what was the point? Perhaps it will allow just a few more applicants to benefit from fee waivers. Most will miss the deadline/exhausted funds.
"Miss": On September 29,2010 (3 months ago), SBA FINALLY changed the rules to allow business owners to refinance their commercial real estate with the SBA 504 fixed rate loan program. This was a HUGE victory for small business owners. So why is it a "miss"?... because we are STILL WAITING for SBA to publish the rules! This means that lenders cannot process any refinance loans until SBA gets it together!!
Lots of lip service from SBA right now! Lenders and small business owners NEED to utilize this program today!
I believe that SBA will "hold off" on publishing the rules, until the Small Business Jobs Act funds are exhausted. Why? Because then, the business owner will have to pay the FEE to SBA (which is currently being waived)! Does not make sense to lenders or small business owners, but I guess it makes sense to SBA and Congress.
Stay tuned... or better yet... demand Congress and SBA to implement the SBA 504 refinance rules NOW!!
"Hit": SBA at the last moment, approved an extension of the soon expiring fee waivers and higher loan guarantees. The Small Business Jobs Act was to expire 12/31/2010. It has now been extended thru March 4, 2011.
"Miss": What is not "common knowledge", is that the "funds" for the extension will most likely be EXHAUSTED very soon.. most think by 12/31/10! So what was the point? Perhaps it will allow just a few more applicants to benefit from fee waivers. Most will miss the deadline/exhausted funds.
"Miss": On September 29,2010 (3 months ago), SBA FINALLY changed the rules to allow business owners to refinance their commercial real estate with the SBA 504 fixed rate loan program. This was a HUGE victory for small business owners. So why is it a "miss"?... because we are STILL WAITING for SBA to publish the rules! This means that lenders cannot process any refinance loans until SBA gets it together!!
Lots of lip service from SBA right now! Lenders and small business owners NEED to utilize this program today!
I believe that SBA will "hold off" on publishing the rules, until the Small Business Jobs Act funds are exhausted. Why? Because then, the business owner will have to pay the FEE to SBA (which is currently being waived)! Does not make sense to lenders or small business owners, but I guess it makes sense to SBA and Congress.
Stay tuned... or better yet... demand Congress and SBA to implement the SBA 504 refinance rules NOW!!
Wednesday, November 17, 2010
2011 SBA Lending
We anticipate 2011 to be bullish for SBA lending.
The highly anticipated refinancing changes to the SBA 504 loan program should be published by January. We are very optomistic that this one change to the 504 program will return common sense to commercial real estate lending.
It will allow owner/users of commercial real estate to refinance out of a note that is being ballooned or has higher interest rates.
I am anxious to be able to help so many here in Central Oregon!
Stay tuned!
The highly anticipated refinancing changes to the SBA 504 loan program should be published by January. We are very optomistic that this one change to the 504 program will return common sense to commercial real estate lending.
It will allow owner/users of commercial real estate to refinance out of a note that is being ballooned or has higher interest rates.
I am anxious to be able to help so many here in Central Oregon!
Stay tuned!
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