The SBA Proposes Four Changes to the 504 Loan Program – by Chris Hurn
- 11 years ago
Chris Hurn, the CEO and Cofounder of Mercantile Capital Corporation, has been on record saying that the SBA will likely see a 20 to 30 percent decrease in 504 loan volume in fiscal year 2013. Despite the fact that the SBA is coming off back-to-back record-breaking years, he expects this drop-off in 504 loans due in large part to the 504 refinance and secondary market (FMLP) programs not being extended past September of 2012. Well, he may have to eat my words (and he’ll gladly do so), because the Agency recently announced some changes that may curtail his forecasted decrease. Specifically, there are four things that he thinks will make a big difference for small business owners, and he explains them in this video.
The video is a bit long, but we think the information is extremely helpful for small business owners who want to purchase, construct, or renovate their commercial facilities. Be sure to share this with someone who’ll appreciate it and benefit from it, and stay tuned for more updates as we learn more about these proposed changes and the proposed legislation regarding SBA 504 refinancing.
The video is a bit long, but we think the information is extremely helpful for small business owners who want to purchase, construct, or renovate their commercial facilities. Be sure to share this with someone who’ll appreciate it and benefit from it, and stay tuned for more updates as we learn more about these proposed changes and the proposed legislation regarding SBA 504 refinancing.