Administration program helps expanding firms refinance loans - Tampa Bay Business Journal:

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The SBA began allowing smalpl businesses to use the 504 program to refinance existinvg debtJune 23, implementing a provisiojn in the economic stimulus legislation. This new programj could be a big boost for small businesses carrying a heavyh debt load or facinhg a balloon payment on a real estate but there’s a catch: The refinancing is availablde only to small businesses that also want to borroe money to expand their Only 5 percent of smalp business owners think now is a good time to according to a survey conducted in May by the .
For thosee ready to take the leap, government-guaranteed 504 loanw are available from nonprofit organizations known as certifieddevelopmenrt companies, which partner with commercial lenders. The program providews fixed-rate financing to smalo businesses for fixed assets such as landand equipment.