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    SBA to Increase 504 Loan Amount to $5,000,000 !!
    Entry posted October 26, 2009 by mkulkaElite Contributor, last edited January 19, 2012
    1348 Views, 1 Comment
    Title:
    SBA to Increase 504 Loan Amount to $5,000,000 !!
    Entry:

    President Obama has proposed to increase the 504 Loan limit to $5,000,000.  I just talked to the Detroit District Counsel about the new energy incentive programs and was informed of this news.  This increase in loan limit could not occur at a better time given all of the properties that will be up for renewal.  Many lessees will be candidates to purchase their properties from their landlord who may be in default and cannot refinance.  Short sales for owners, new purchase for lessee to become owner, new due diligence, new SBA loan......  This could be big.  Lets hope congress acts swiftly to pass this. 

    Comment

     

    • dezovski
      posted October 27, 2009 by dezovskiSuper Contributor

      Mike - This could be great news, I agree.  However, the big issue continues to be whether the guarantees will change.  If the guarantee doesn't change, then the effect of the higher limits may not be all that great since banks will lose some of its protections that come from SBA loans.