Tag Archives: SBA

Industry analysts have been sounding the alarm for months now about high volumes of commercial mortgages coming due over the next couple of years that borrowers may find difficult to refinance. But small businesses who find themselves in this situation are getting a helping hand from the U.S. Small Business Administration (SBA). The agency is rolling out a program that will allow small businesses to refinance their mortgage debt with a 504 loan.

Rowell Auctions, Inc. has announced the hiring of Douglas G. Dennison as national sales coordinator for the firm. Dennison has 20 years of auction experience and has specialized in large real estate government auctions throughout the country. He has served as auction project manager for the FDIC, U.S. General Services Administration (GSA), U.S. Marshals Service, Small Business Administration (SBA), Resolution Trust Corporation (RTC), and U.S. bankruptcy auctions in more than 30 states.

Distressed conditions in the commercial real estate market combined with historically low interest rates present an opportunity for small business owners looking to grow their businesses, but many are finding themselves locked out of potential deals. According to the results of a nationwide survey published by CIT Group Inc., nearly one in five small business owners say they don't have the cash to cover the down payment needed to secure a traditional bank loan for acquiring commercial real estate.