Buying A Business
Women & Minorities
types of loans
Conventional, Non-Guaranteed Loan
Loans for Refinancing Debt
are several reasons why a business should consider refinancing
• Reduce the interest rate and/or
convert from a floating rate to a fixed rate.
• Reduce the monthly payment
by extending the loan maturity.
• Convert short term debt
to long term debt. See working
capital loans >
the equity built up in fixed assets to provide cash for the growth
of your business.
As a term lender, NYBDC first needs to understand
the value of the assets you are refinancing. It may be appropriate
to obtain appraisals prior to deciding loan amounts as this will
let us maximize the amount of the loan request.
sizes range from $50,000 to $1,500,000. We are a complement to
bank financing and do not compete with our partner banks. Many
loan structures include NYBDC, Bank and other subordinate lenders
which can bring the total financing to exceed $5 million.
typically looks to refinance no more than 80% of the value of the
collateral. The loan repayment period would be tied to the useful
life of the assets. In many cases, we utilize the SBA loan guarantee
program. This allows us to have a higher loan to value ratio and
can permit us to have a longer repayment schedule.
We can not use
the SBA 504 loan program for refinancing of debt.
To see the different rates and
terms for NYBDC loans, go to the Loan Payment Estimator >