It’s been a busy week for the SBA, with its budget getting slashed and the new SBA 504 refinance regulations coming out. Well, “slashed” isn’t exactly the right word for it, and that’s the first reason for this blog post. The second reason is to explain all the details about the SBA 504 refinance that have finally been made public.
Since we have two pretty complicated topics to cover, I’ve recorded two videos which you can watch below. I think you’ll find the information pretty useful, so bear with me for just a few minutes — it’ll be worth it.
Part 1
Part 2
Though these videos are aimed at explaining everything about the SBA budget and the new SBA 504 refinance regulations, they may actually create more questions (these are fairly complicated topics). If so, don’t hesitate to post your questions below or email me at ChrisHurn@MercantileCC.com.
Dedicated to Your Continued Success,
Chris
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P.P.S. If you know someone who ought to own their commercial property, or should start getting things in order to refinance their commercial property, contact me today. It’s never too early to get the ball rolling. Call me at 866-622-4504 or email me at ChrisHurn@MercantileCC.com.
Tags: 504 loans, Chris Hurn, commercial property financing, Commercial Real Estate Loans, Mercantile Capital Corporation, Personal finance, Refinancing, SBA 504, SBA 504 Experts, SBA 504 Refinancing, SBA financing, SBA Refinancing, small business financing
Chris Hurn says:
By the way, I should have said this in my video, but regarding the SBA’s supposedly “slashed” budget, we have a clear-cut case of “only-in-Washington” math. How else can you explain getting (proposed) $142MM more, YET it’s characterized as a 45% CUT. You read that correctly. The SBA’s proposed budget is $142MM more than the last fiscal year (the one we’re currently in), but the Administration has spun this as a massive spending cut (45% less)! When you exclude the supplemental funding the SBA received from the “Stimulus funds” last year ($962MM), the 2012 request is $161MM higher (mostly due to increased estimated subsidy costs [i.e. projected SBA-backed loans going bad]) and its administrative costs drop $19MM (compared to this fiscal year). Having said all of that, it’s still my belief that the SBA does MORE with LESS compared to just about ANY agency or department in Washington. I just don’t like people trying to score political points by fudging the math so much.
Steven says:
Informative video Chris. Your comment about solving SSI made me curious: what is your solution to solving SSI? I desire to know what politicians should, but won’t or can’t do.
The Administration calling the SBA budget a “cut” might be a good thing for it by giving it cover of having taken it’s share of the cost cutting. You might not want to bite the hand that feeds you.
Do the “Stimulus” funds need to be repaid?
Are the loans being repackaged into bonds? If so, what are the bond ratings? The $161 million subsidy costs represent what percent of the default rate of the loans?
Side question: What is your view of the predicted bond collapse?