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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.
Unlocking Financial Flexibility: SBA 504 Refinance Rules for North Dakota Business Owners
Sarah owns a thriving café in Fargo, North Dakota. Despite her business’s success, the high-interest commercial loan she took out years ago is weighing heavily on her monthly cash flow. Like many business owners, she feels trapped by her financial obligations. But there’s a solution that could ease her burden: the SBA 504 Refinance Program.
- Unlocking Financial Flexibility: SBA 504 Refinance Rules for North Dakota Business Owners
- Understanding SBA 504 Refinance Rules
- Why North Dakota Businesses Should Consider SBA 504 Refinance
- Common Mistakes to Avoid
- Case Study: A Fargo Success Story
- FAQs About SBA 504 Refinance
- Take the Next Step with GHC Funding
Understanding SBA 504 Refinance Rules
The SBA 504 Refinance Program is designed to help small businesses like Sarah’s refinance existing debt. This program offers favorable terms, enabling business owners to improve cash flow and invest in growth. It’s a lifeline for those struggling under the weight of high-interest loans.
Who benefits? Any small business owner in North Dakota with existing commercial debt. This program is particularly beneficial in cities like Fargo, Bismarck, and Grand Forks, where market conditions can be challenging due to fluctuating economic factors.
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:
- Credit Score Requirements: A minimum score of 680 is typically required.
- Approval Time: The process usually takes between 45 to 60 days.
Why North Dakota Businesses Should Consider SBA 504 Refinance
North Dakota businesses face unique challenges. The state’s economy, heavily reliant on agriculture and energy, can be unpredictable. Refinance options through the SBA 504 program provide stability in uncertain times.
By refinancing, businesses can:
- Lower monthly payments
- Improve cash flow
- Access funds for expansion
Common Mistakes to Avoid
Many North Dakota business owners make these errors:
- Ignoring Credit Scores: Failing to maintain a credit score above 680 can hinder eligibility.
- Overlooking Documentation: Incomplete paperwork can delay the approval process.
- Misjudging Loan Terms: Not understanding the terms can lead to financial strain.
- Neglecting Professional Advice: Skipping consultation with financial experts can result in missed opportunities.
Case Study: A Fargo Success Story
Consider John, who owns a manufacturing business in Fargo. His commercial loan‘s high interest was stifling growth. By refinancing through the SBA 504 program, he reduced his monthly payments by 20%. This allowed him to reinvest in new equipment, boosting productivity and profits.
FAQs About SBA 504 Refinance
- What is the maximum loan amount? Up to $5 million.
- Can I refinance multiple loans? Yes, as long as they are commercial real estate loans.
- What fees are involved? Expect to pay approximately 2.65% in fees.
- Is there a prepayment penalty? Yes, typically within the first 10 years.
- Are there restrictions on loan use? Funds must be used for business purposes.
- How do I start the process? Contact a certified development company or lender.
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 |
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Read more →Take the Next Step with GHC Funding
If you’re a North Dakota business owner like Sarah or John, struggling with commercial debt, the SBA 504 Refinance Program might be your answer. Contact GHC Funding today to explore how you can lower your monthly payments and unlock new growth opportunities.
Our experts are ready to guide you through the process, ensuring a seamless transition to financial freedom.
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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