Refinancing a commercial loan into an SBA loan

by a searcher from Missouri State University - College of Business Administration

1 month ago

Hi Searchfunders,
I'm exploring the possibility of refinancing a commercial loan into an SBA loan and wanted to hear about others' experiences with the process.
My current conventional loan has a shorter amortization period, and the reporting requirements to the bank are becoming a point of irritation. Debt service isn't an issue but it would be nice to free up a little extra cashflow with a longer amortization period. I'm wondering if an SBA loan might be a better fit, offering a longer amortization period and fewer reporting requirements.
If you've gone through this type of refinancing, I’d love to know:
What was the process like?
Were there any unexpected challenges or benefits?


Any insights or advice would be greatly appreciated!

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6 comments

professional from University of the District of Columbia

Correct, not only free up some cashflow and in certain scenarios, but you could also get working capital in the six figures, as an added bonus. Explore the option!

1 month ago | like reply | 0 likes

lender from Eastern Illinois University

I would love to have a conversation with you. We have helped many small business owners take advantage of SBA financing. It would be good to go through the positives and negatives of making the change. You can reach me here or directly at --@----.com

1 month ago | like reply | 0 likes

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