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SBA 504 Loan Refinancing - A Game Changer for Commercial Real Estate
A new SBA program gives commercial real estate owners the chance to refinance debt with a government guaranteed 504 loan. National SBA loan experts will explain what lenders must know to participate during this Coleman webinar on Wednesday March 2.
The SBA will begin accepting 504 refinancing applications on February 28. If you are an SBA lender, particularly a CDC, this Coleman webinar will help you prepare to offer this new program. Three national experts on SBA 504 lending will participate as the webinar panelists and moderator. They will review the criteria for borrower participation, explain the underwriting guidelines, and provide details on the application process. Some of the other questions the webinar experts will address are:
• If the amount of the refinanced debt, which is tied to the asset's current value, is not sufficient to repay the entire outstanding debt, how can the balance be handled?
• How will fair market value of the assets be assessed?
• Are there job creation and other economic development objectives linked to the refinancing?
Perhaps most important, the SBA lending experts participating as webinar panelists will provide answers to the questions you submit before or during the webinar.
The SBA lending experts participating as Coleman webinar panelists are:
Joan Earhart, Executive Vice President & SBA Division Manager, Fullerton Community Bank
Joan is an expert in SBA financing. In addition to her current role as the Executive Vice President at Fullerton Community Bank/Business Community Capital, Joan serves on the Board of Directors/Loan Committee at CDC Small Business Finance. Earlier, Joan was the founding Chairperson at Small Business Financial Development Center of Orange County and served as Sr. Vice President/SBA Division Manager at Orange National Bank.
Chris Hurn, Chief Executive Officer/Co-founder, Mercantile Capital Corporation
Mercantile Capital Corporation (MCC) reports that it is "the only company nationwide that exclusively focuses on providing SBA 504 loans for business owners to finance commercial property". Chris leads MCC's business development, underwriting and marketing functions. Previously, he worked as a senior management consultant, financier and executive with GE Capital, Heller Financial and NAI Realvest.
Bob Coleman, Editor, Coleman Report
Bob is the Founder of Coleman Publishing, an online media company covering the small business banking industry. As the nationally recognized expert on small business banking, he has appeared on Fox Business News and CNN and has been quoted by most major financial media outlets including The Wall Street Journal, The New York Times and Bloomberg. Coleman Publishing started in 1993 with the Coleman Report, a newsletter covering the Small Business Administration's lending programs.
Webinar participation on Wednesday, March 2 at 2:00 EST is available to anyone who would like to participate at a cost of $189 per location. Register at www.colemanpublishing.com. For additional information, contact Bob Coleman at firstname.lastname@example.org.
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Coleman Publishing is an online media company covering the small business banking industry. The founder, Bob Coleman, is the national expert in small business lending.
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