About refinaceing
I own a small motel my first sba loan is with morage then I have a 2nd sba loan for 15,000 3 rd loan is sba loan for 22,000 I want to refinaceI have been told that when I refinace I have to pay off all my sba loans, is this true? They said after I pay off the 1st then the 2nd sba loan takes the 1st same with the 3rd Is this all true, Thank You by angela Petrovic from , Colorado. Jan 23rd 2012
Lee Hopkins (LHopkins)
#36 ranked lender in Pennsylvania - 24 contributions
Angela: Yes. SBA will want to be in first lien position,. Mike
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
Mike is correct. SBA is very particular. Your current SBA lender should be helpful in restructuring your current loans into more favorable terms. ~ Bert Carpenter, The LoansA2z Team of Nova Home Loans ~ NMLS 40586 ~ www.LoansA2z.com
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Talk to your SBA lender.. but I know for a fact that SBA will always be senior position.. WilliamAcres.com
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