504 Refinance

What’s Eligible?

• Businesses that have been in operation 2 years or more.

• Businesses that meet the 504 program occupancy requirements.

• Debt that has been in existence for a minimum of 2 years that has been secured with eligible fixed assets.

• Borrowers that have been current on their payments for the past 12 months.

• Refinancing same institution or other institution non-federal debt.

• 90% LTV based on appraised value.  Outside collateral can count toward the 90%.
— Maximum of 85% LTV if cash is taken out for business operating expenses.
— Cash for eligible business operating expenses cannot exceed 25% LTV.

Please contact RMI if you have questions:  (573) 635-0136.