Refinancing a commercial loan into an SBA loan

searcher profile

December 16, 2024

by a searcher in Kansas City, MO, USA

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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commentor profile
Reply by a lender
in Ponte Vedra Beach, FL 32082, USA
Good day, I’d be happy to have a conversation about sba refinance process, structure options, and details on what can come up. My cell is###-###-#### and email is redacted You’re welcome to use my calendly link below https://calendly.com/bturner-thebancorp/45min
commentor profile
Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
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 redacted
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