SMALL BUSINESS JOBS ACT:

504 LOAN PROGRAM DEBT

REFINANCING

Jobs Act – 504 Debt Refinance Program

•On September 27, 2010, the Small Business Jobs Act of 2010, P.L. 111-240 (Jobs Act) was signed into law.

•The Jobs Act temporarily extends the 504 program to allow refinance without business expansion.

•SBA has $15 billion in program authority for this commercial real estate and equipment refinance program. However, the amount of owner-occupied commercial real estate that has lost significant value is many times this amount.

•All loans must be approved by September 27, 2012.