Loan Program Extension could Help More Small Businesses
The Small Business Administration (SBA) officially lifted the December 31, 2012, date limit on 504 loans, making the refinancing of distressed mortgages accessible to more small businesses. The 504 loan program enacted under the Small Business Jobs Act of 2010 temporarily allows small businesses facing maturing commercial real estate mortgages or balloon payments to refinance eligible fixed assets through the SBA. Eliminating the
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