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Facts About the Benefits of SBA 504 Loans for American Small Businesses
The National Association of Development Companies (NADCO) is the trade association for the nation’s 270 Certified Development Companies (CDCs). CDCs are certified by the U.S. Small Business Administration (SBA) to provide financing to small businesses through what is called the SBA 504 loan program. Members are non-profit organizations that serve every state, as well as Puerto Rico and U. S. territories in the South Pacific.
Chris Crawford is the president of NADCO. The organization is based in McLean, Virginia.
NADCO is actively supporting the SBA 504 refinance program, a time-limited opportunity that is due to expire 9/27/12. This powerful program offers businesses the opportunity to refinance their small business loans and withdraw equity for working capital. The program offers lenders the opportunity to bring owner-occupied commercial real-estate portfolio back into regulatory compliance and reduce overall CRE portfolio concentrations.
FINANCING
The 504 industry is responsible for financing more than $45 billion to about 130,000 of America’s small businesses over the past 25 years. The total project amount funded has been over $112 billion in small business financing projects. With NADCO’s support, the 504 program’s loan authority is up from $400 million in 1991 to $7.5 billion in FY 2011.
REFINANCING
Many small business owners are not aware that if they have a commercial business loan (non-SBA loan) they can refinance that loan at very low rates using the 504. For many small businesses, this has meant the difference between success and failure. However, this program is scheduled to end on September 27, 2012.
Small businesses can SAVE money and time using the 504 refinance program. The 504 Refinance program allows small businesses to use excess equity to obtain working capital for eligible business expenses.
The 504 refinance loan program is designed for small businesses that have outstanding commercial real estate and/or commercial real estate loans. Businesses can refinance up to 90% of the appraised value of available collateral.
SBA estimates that as many as 8,000 businesses may participate in this 504 refinancing program during the current fiscal year, which will provide up to $7.5 billion in SBA-guaranteed financing leading to total project financing of almost $17 billion.
The 504 refinance loan program enables small businesses to:
Use excess equity to obtain working capital for eligible business expenses
Lock in long-term, fixed-rate, low-interest commercial financing
Help expand those businesses, create jobs and benefit consumers too
Consolidate existing debt
Finance eligible business expenses, saving working capital
Other benefits include:
consolidate existing debt (balloon and/or high interest rate loans)
lock in long-term, stable financing, reduce fluctuating expenses
finance eligible business expenses, save needed cash-flow
protect jobs and hire additional staff, supporting the local community
include closing costs in the transaction, eliminating cash-flow drain
Unemployed loans: Efficient financial way for unwaged people
Your unwaged status is the main cause of all your financial troubles? Searching out an effective way that assists you to resolve your problem in an efficient way? Then, unemployed loans are the suitable option to bring you out from unexpected cash crunches. This financial plan is a great source for all the unwaged people who are in need of instant cash.
The efficient part of unemployed loans is that you dont need to fax any income proof and pledge any collateral against the lender. It means tenants and unwaged people can easily grab the funds as like other borrowers. Now, leave all your worries regarding collateral placements and extensive paperwork as this loan is free from all the protracted formalities.
As this is meant for assisting the jobless people it can be available in unsecured form and approved for the time small time duration of 1-10 years. The amount you can fetch in the ranging from £1000 to £25000 as per their need, fiscal status and repayment capability. One more thing you should keep in your mind that repayment should be made on time as it enhances your credit profile and make you save from penalty charges.
For loans for unemployed people can directly apply online. Online application is quite easy and time saving. You only supposed to complete a single online form with few required details and submitted on lenders site. No faxing of papers and documents are required. Once the form gets verified by the lender the cash will automatically transit in your bank account.
Further, the approved cash can be used to fulfill several requirements such as pay off credit card dues, consolidation of old debts, several household expenses, medical expenses, buy a wedding dress, small business expenses, go for holiday tour etc.
Moreover, all bad credit borrowers may simply get approved for this financial aid as it is free from credit check process. So, leave all your worries regarding instant loan approval as unemployed loans are ready to serve you quick cash support without any hassle.