Don’t forget that the 504 Loan Program can now participate in projects that are 100% Refinancing of RE and M&E

Five Important Facts about the 504 Refinance Program

  1. Multiple business loans can be combined but one must have originally been for business real estate or equipment.
  2. The business must be two years old.
  3. All refinanced loans must have been current over the last 12 months
  4. Cash can be taken out to be used for operating expenses over the next 18 months
  5. Assets securing the refinancing must be appraised and provide a 90% Loan to Value (85% Loan to Value if cash is taken out)
Contact an OSDC Loan Officer to learn more about the program here.