ABA Supports Bill to Reinstate SBA 504 Refinancing Program

ABA yesterday thanked Sens. Jeanne Shaheen (D-N.H.) and Johnny Isakson (R-Ga.) for introducing S. 966. The bill would reinstate the Small Business Administration’s 504 Loan Refinancing Program, which has helped thousands of small firms refinance more than $5 billion in commercial real estate debt.

“In a tough economic climate, meeting long-term capital needs for small businesses could be the difference between expanding and shrinking a business,” ABA said. “This important program will help more small businesses with long-term financing that will in turn help them expand and create jobs in the future.”