Lending Power | Loan Programs & Leadership for small business

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SBA 504 Current Rate:

4.635%

View Rates

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Whether you want to consolidate a secured line of credit, pay down an unsecured line of credit, or even for working capital, the SBA 504 Refinance Program may be the right choice for you. 

504 + CREATIVE THINKING = LENDING POWER

If the borrower's commercial loan meets the eligibilty requirements, CIC can roll other commercial debt secured by the 504 eligible asset into the refinance. In fact, there may also be an opportunity to structure a cash-out refinance. 

 

IS THE 504 REFINANCE PROGRAM RIGHT FOR YOU?

 

The primary debt to be refinanced must be a commercial loan that:

  • Was originally used to acquire 504-eligible assets
  • Was secured by the asset(s)
  • Is at least 24 months old and paid as agreed (current) for the last 12 months; and
  • The borrower must be operating for 2 or more years with no ownership changes prior to the refinance

 

To find out more about the benefits of this new program and its eligibility requirements, contact a CIC Loan Officer. 

Not in our lending territory? No problem! CIC has a nationwide network of CDC partners ready to assist. Contact us to find out more.

Start the conversation today!

Contact Us

(203) 776-6172

(401) 406-7282

CIC is an economic development lender contributing financial expertise and practical guidance to small business entrepreneurs in Connecticut and Rhode Island who have powerful ideas and need more power to grow them.