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SBA 7(a) & 504 Highlights
- Loan amounts from $100,000 up to $15 million+ (program-dependent).
- Up to 90% financing for eligible acquisitions, real estate, and equipment.
- Use funds for working capital, refinance, expansion, and partner buyout.
- Longer terms (up to 25 years on real estate) to keep payments manageable.
Simplifying SBA 504 Refinance Rules for New Jersey Business Owners
Meet John, a small business owner in Hoboken, New Jersey. Three years ago, John took out a loan to expand his bakery. With interest rates now fluctuating, he’s feeling the pressure. That’s when he heard about the SBA 504 Refinance program. He thought, “Could this be the solution I need?” If you’re a business owner like John, this guide will break down how the SBA 504 Refinance can work for you.
Understanding SBA 504 Refinance Rules
The SBA 504 Refinance program is designed to help business owners like you manage existing debt with more favorable terms. It’s particularly beneficial in New Jersey, where market conditions can be unpredictable. Whether you’re in Newark, Jersey City, or Trenton, understanding these rules can be a game-changer.
The program allows you to refinance debt related to fixed assets, such as real estate and equipment. This can lead to lower monthly payments and improved cash flow. For New Jersey businesses, where operating costs are high, this is a crucial advantage.
Need capital? GHC Funding offers flexible funding solutions to support your business growth or real estate projects. Discover fast, reliable financing options today!
⚡ Key Flexible Funding Options:
GHC Funding everages financing types that prioritize asset value and cash flow over lengthy financial history checks:
DSCR Rental Loan
- No tax returns required
- Qualify using rental income (DSCR-based)
- Fast closings ~3–4 weeks
SBA 7(a) Loan
- Lower down payments vs banks
- Long amortization improves cash flow
- Good if your business occupies 51%+
Bridge Loan
- Close quickly — move on opportunities
- Flexible underwriting
- Great for value-add or transitional assets
SBA 504 Loan
- Low fixed rates through CDC portion
- Great for construction, expansion, fixed assets
- Often lower down payment than bank loans
🌐 Learn More
For details on GHC Funding's specific products and to start an application, please visit our homepage:
- Eligible Debt: Must be at least two years old.
- Loan-to-Value Ratio: Up to 90% for most properties.
Why New Jersey Businesses Benefit
New Jersey’s bustling economy presents unique opportunities and challenges. The SBA 504 Refinance program helps you stay competitive by reducing financial strain. Cities like Princeton and Atlantic City have seen businesses thrive by leveraging this option.
Credit Score Requirements: Generally, a minimum score of 680 is needed. This ensures you qualify for the best rates.
Approval Timeline: The process typically takes 30 to 45 days. However, working with experienced lenders can expedite this.
Common Mistakes to Avoid
Many New Jersey business owners make similar mistakes when considering refinancing:
- Not reviewing the terms carefully.
- Overestimating their creditworthiness.
- Ignoring hidden fees.
- Delaying the decision until rates rise further.
Avoiding these pitfalls can save you time and money.
Case Study: A Real Success Story
Consider Maria, who owns a manufacturing business in Paterson. Her .2 million loan was refinanced through the SBA 504 program, reducing her monthly payments by ,500. This allowed her to reinvest in her workforce and equipment, leading to a 20% increase in productivity.
Frequently Asked Questions
Here are some common questions New Jersey business owners ask:
- What types of debt can be refinanced? Any debt related to fixed assets.
- Can I refinance more than one loan? Yes, as long as they meet eligibility criteria.
- What are the fees involved? Fees typically range from 2-3% of the loan amount.
- Is there a prepayment penalty? Generally, no, but check specific lender terms.
- How do I start the process? Contact a certified lender like GHC Funding.
- What if my credit score is below 680? Consider improving your score or discussing alternatives with a financial advisor.
Get a Free Rate Today
Compare our top-rated commercial and investment property loan programs below.
- No income verification
- 30-year fixed | Interest-only available
- Great for rental properties + STR
- Fast approvals
- Working capital + business acquisition
- Up to $5M
- Low down payment
- Long-term financing
- Owner-occupied CRE
- Low fixed rates | 25-year terms
- Great for business expansion
- Refinance available
- Best for stabilized properties
- Competitive rates
- 12–25 year terms
- Lower fees than private lenders
Compare Loan Types
Find the Right Financing for Your Real Estate or Business Project
| Loan Type | Best For | Rates | Terms | Highlights | Apply |
|---|---|---|---|---|---|
| DSCR Loan | Rental properties (LTR & STR) | 5.99%+ | 30-year fixed, IO options | No income docs, fast approvals, great for investors | Check My Rate |
| Construction Loan | Ground-up, fix & build, major renovations | 8%–12% depending on scope | 12–24 months interest-only | Flexible draws, great for builders & developers | Get a Quote |
| SBA Loan | Business acquisition, working capital, CRE | Prime + spread | 10–25 years | Lowest down payments, long terms, best for business growth | See My Options |
Take Action Today
Don’t let high-interest rates hold your New Jersey business back. Contact GHC Funding to explore your refinancing options today. Our experts are ready to guide you through every step of the process, ensuring you make the best decision for your business’s future.
With the right guidance and resources, you can transform financial challenges into opportunities for growth. Reach out now and let’s make it happen.
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Get a No Obligation Quote Today.
Use these trusted resources to grow and manage your small business—then connect with GHC Funding
to explore financing options tailored to your needs.
GHC Funding helps entrepreneurs secure working capital, equipment financing, real estate loans,
and more—start your funding conversation today.
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