• 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.