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504 Business Loans

Business Debt Refinancing Tailored to Your Needs

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5 Minute

Pre-Approval Process

489

Loans Closed

40 Years

Years Of Experience

A+ Rating

with Better Business Bureau

504 Loan Refinance Program

Dealing with business debt can often be a daunting experience. Mounting payments, soaring interest rates, and tightening cash flows can create significant challenges for business owners. In such times, finding a viable solution becomes crucial, and that’s where NEDCO comes in. With a vast wealth of experience in SBA lending, NEDCO offers a lifeline to businesses in need: business debt refinancing through the SBA 504 loan program.

NEDCO, a seasoned expert in the world of SBA loans, specializes in the SBA 504 loan program. This program is specifically designed to assist small businesses, providing them with the financial resources they need for capital investments and, importantly, debt refinancing. The SBA 504 loan program’s ability to refinance existing debt under certain conditions offers businesses a chance to secure more favorable repayment terms.

Business Debt Refinancing Loan Terms and Options

At NEDCO, we champion businesses with tailored solutions under the SBA 504 loan program for business debt refinancing. Our aim is to offer accessible and flexible financial options to our diverse clientele. We provide businesses with long-term, fixed-rate financing, enabling stability and predictability in their repayment plans. The SBA 504 refinancing loan primarily comprises two parts: up to 40% of the debt is covered by a loan from NEDCO (or another Certified Development Company), while a third-party lender contributes towards 50% of the debt. The borrower typically invests 10% equity, which can increase for startups or businesses refinancing special-purpose buildings. With loan terms of 10 or 20 years, businesses enjoy fixed monthly payments over an extended period, mitigating concerns about interest rate fluctuations or escalating payments. The SBA 504 program also permits businesses to consolidate or refinance existing debts. This advantage helps businesses, particularly those with multiple high-interest loans, to significantly reduce monthly debt payments and avail more working capital for growth. NEDCO recognizes that each business has unique financing needs and, therefore, we provide personalized guidance, assisting clients in selecting the most suitable loan terms and options.

504 Business Loan APR

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Why Choose NEDCO for Business Debt Refinancing?

Choosing NEDCO for your business debt refinancing needs means opting for a solution that combines experience, flexibility, and a customer-first approach. Here’s why NEDCO stands out:

  • Experience: With years of expertise in SBA lending, we’ve refined our approach to provide effective and tailored debt refinancing solutions.
  • Personalized Service: We understand that every business is unique. Our team will work closely with you to tailor a 504 loan for refinancing that suits your specific needs.
  • Expert Guidance: Our team is well-versed in the nuances of the SBA 504 loan program, ensuring you’re informed and confident about every step of the process.
  • Long-term, Fixed-rate Financing: The SBA 504 loan program offers fixed rates over extended terms, providing stability and predictability in your repayment plans.
  • Debt Consolidation Options: The SBA 504 program enables businesses to consolidate existing high-interest loans into a single, low-interest loan, reducing monthly payments and freeing up working capital.
  • Commitment to Small Businesses: NEDCO is dedicated to the growth and success of small businesses, and we’re committed to providing financing options that help businesses thrive.
  • Community Impact: By choosing NEDCO, you’re supporting an organization that not only helps businesses but also contributes to economic development in the community.

Four Easy Steps to Business Debt Refinancing with NEDCO

We strive to streamline the process of business debt refinancing at NEDCO. Here’s a breakdown of our four-step procedure:

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1

Initial Consultation

Start by discussing your business’s financial needs with our team, allowing us to understand and evaluate your refinancing requirements.

2

Eligibility Assessment

Next, we conduct a comprehensive assessment to determine your eligibility for the SBA 504 loan program and business debt refinancing loan.

3

Loan Application

Following your eligibility confirmation, submit the necessary documents to apply for the SBA 504 loan, ensuring that all information provided is accurate.

4

Loan Approval and Closing

After your application gets approved, we work in tandem with you and the SBA to finalize the 504 loan refinance program terms, execute the paperwork, and seal the deal, setting your business on the path towards effective debt management.

Expert Guidance

Leverage NEDCO’s profound expertise in the SBA loan program for optimal business debt refinancing solutions.

Personalized Service

Experience a customer-centric approach with services uniquely tailored to your business’s specific financial needs.

Stable Financing

Enjoy the peace of mind that comes with long-term, fixed-rate financing, providing predictable repayment schedules.

Who Qualifies for Business Debt Refinancing with NEDCO?

Qualifying for business debt refinancing with NEDCO involves meeting specific criteria set by the SBA and us. Here’s a snapshot of the typical qualifications:

  • Small Businesses: As per the SBA’s size standards, small businesses qualify for the SBA 504 loan program. This spans a wide range of industries and includes firms whose net worth and average net income fall within the stipulated parameters.
  • Sound Financial Standing: Businesses that demonstrate financial stability and a strong capacity to meet loan repayments qualify. This is assessed through a thorough review of financial statements and credit history.
  • Tangible Collateral: Depending on the loan amount, businesses need to provide collateral, usually in the form of real estate, machinery, or equipment. The value and type of the collateral influence the final loan terms.
  • Purposeful Use of Funds: The refinancing is aimed at supporting growth-oriented expenses such as purchase or renovation of facilities, acquisition of machinery, or even consolidating high-interest debts. Businesses with a clear, justified use for the loan amount tend to have higher chances of approval.

What are the Benefits of Business Debt Refinancing with NEDCO?

  • Long-Term Stability: Fixed interest rates of the SBA 504 loan program ensure predictable monthly payments and financial planning.
  • Improved Cash Flow: By lowering monthly payments, refinancing can free up cash flow for other important business investments.
  • Growth Opportunities: The freed-up capital can be used for business expansion, acquisition, or the introduction of new products/services.
  • Professional Guidance: NEDCO provides expertise in the SBA loan process, helping your business navigate the complexities of refinancing.

Business debt refinancing with NEDCO leads to long-term financial stability, enhanced cash flow, new growth opportunities, and expert guidance to ensure a seamless refinancing process.

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Qualify for Business Debt Refinancing

To qualify for our financing options, you need to meet the following requirements:

Comply with SBA’s small business size criteria.

Exhibit strong financial health and repayment capability.

Furnish tangible collateral for loan security.

Demonstrate meaningful purpose for loan funds.

Industries We Serve

NEDCO provides business debt refinancing solutions to a broad spectrum of industries. Our services cater to:

  • Retail Businesses
  • Manufacturing Units
  • Real Estate Firms
  • Tech Startups
  • Food Services
  • Health Services
  • Hospitality Industry
  • Construction Companies
  • Agricultural Enterprises
  • Professional Services

Regardless of the industry, our primary goal is to help your business thrive through effective debt refinancing solutions.

Five-Star Reviews and A+ BBB Rating

NEDCO takes great pride in its reputation as a trusted SBA lender, a standing solidified by our consistent five-star reviews and an A+ rating from the Better Business Bureau. This accolade is a testament to our unwavering commitment to providing high-quality services, fostering solid relationships, and delivering bespoke financial solutions that meet our clients’ needs and exceed their expectations. It serves as a motivational fuel for our team to continue delivering excellence in every aspect of our operations.

“We have almost 500% increase in capacity from where we were two years ago to where we are now, and I would not have been able to get the growth, and I would not have been able to get the backing from these larger merchandise companies if it weren’t for the team I had with NEDCO and the SBA.”
Ron Augelli – CEO, Talk Shirty
“I trust NEDCO because they have a great underwriting team and a great legal team that help us close deals and get them done right.”
Paul Walsh – Commercial Loan Officer/VP, PS Bank

Who is Business Debt Refinancing for?

Business debt refinancing through NEDCO is ideal for small to medium-sized businesses seeking to manage their debt more effectively. It is particularly well-suited for those businesses that are facing high-interest rates, multiple debt obligations, or challenging repayment schedules. Whether you’re seeking to consolidate debt, reduce monthly payments, or free up cash for business growth, our refinancing solutions can provide the flexibility and financial stability your business needs to thrive and expand.

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FAQs about Business Debt Refinancing

The SBA refinance program involves replacing existing high-interest debt with a new loan that has better terms and conditions. It is a strategic financial decision to reduce monthly payments, lower interest rates, or change the loan tenure.

Businesses can refinance a range of debt types, including but not limited to term loans, credit card debts, merchant cash advances, equipment loans, and commercial mortgages. The objective is to improve the financial structure and stability of the business.

The primary benefits of business debt refinancing include reduced monthly payments, lowered interest rates, consolidated multiple debts into a single payment, and improved cash flow management. It can significantly enhance a business’s financial health and stability.

The refinancing process begins with an assessment of the business’s current financial situation and identification of potential lenders. Once a suitable lender like NEDCO is chosen, the business submits an application, undergoes a review process, and if approved, the existing debt is paid off with the new loan.

Several factors are considered, including the business’s credit history, the nature and amount of existing debt, business’s profitability, and repayment capability. Additionally, the business’s operating history and growth potential are also significant considerations.

The rates and terms for business debt refinancing can vary depending on multiple factors such as the amount of debt, the business’s creditworthiness, and the economic environment. However, with an SBA 504 loan, businesses can expect competitive, fixed rates, and flexible loan terms.

To apply for a business debt refinancing loan with NEDCO, you’ll start by providing your business’s financial details, including the current debt structure. Following that, NEDCO guides you through the process, providing assistance at every step, from application to loan closure.

The pros of business debt refinancing include lower interest rates, simplified debt management, improved cash flow, and the potential for increased business growth. However, cons could include potential prepayment penalties on the existing loan, time investment in the refinancing process, and the possibility of extending the loan’s life, which might lead to more interest payments over time.

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Why choose Nedco

Transparent Rates

Our rates start at 6.579% APR, ensuring you have a clear understanding of the costs involved.

Nearly 40 Years of Combined Experience

We have a proven track record, serving small businesses for nearly two decades.

Trusted Partner

Count on our expertise, reliability, and personalized service to support your business goals.