For Liberty SBF, the proposed changes were good news. With a client base of investors and businesses keen to refinance SBA 7a loans into low-cost fixed rate SBA 504 loans, this change opened more doors for potential borrowers and generated a lot of interest and money. direct interests. referrals from brokers in the mortgage community.
âIt really is a big deal. Any borrower of this high leveraged loan (SBA 7a) should consider refinancing, as theoretically there should be very few repayable charges. Most of the costs can be capitalized into the new loan, âsaid Alex Cohen (photo), CEO of Liberty SBF.
âMortgage brokers and professionals who work as intermediaries should think about their 7a clients who can now refinance into high leverage fixed rate SBA 504 loans. We think that’s a total of around $ 100 to $ 200 billion in circulation volume, âCohen continued.
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Liberty SBF has embarked on awaiting the SBA’s announcement. To capitalize on the significant change to high leverage small business loans, Liberty SBF has put in place a team dedicated to pursuing this opportunity and has grown this team in the month since the proposed change came into effect. force.