Can an SBA Loan and Commercial Mortgage Be Refinanced?
One of the major drawbacks of a Small Business Administration loan has historically been the difficulty of refinancing later. Recent developments have changed this business loan situation so that it is now more practical to refinance an SBA loan. It is still accurate to say that refinancing is not routinely available, but more importantly it is much easier to obtain than it was in prior years. Advance commercial mortgage planning can avoid some of the Small Business Administration loan refinancing problems. First and foremost, if the original business financing is arranged without an SBA loan, this will usually make later business refinancing easier. This means that commercial borrowers should at least consider if the initial business loan requires an SBA loan before proceeding. SBA Loan Misunderstandings Regarding the Business Loan Process One of the prevailing views of a Small Business Administration loan program concerns the documentation needed to finish the SBA loan and commercial
