I have a 504a SBA loan for a building in 2006 at 9.25% interest, will the bank modify the rate before I fail? - sba loan terms
I bought a building for my company in late 2006 with a bank loan through the SBA program 504A. At the same time, I was surprised that the rate was 9.25%. Unfortunately, I had no other option at the time. Now, with the economy in crisis, we have difficulties, interest payments exhorbitent (Usery word comes to mind). We never missed a chance of payment and do not want. I want to work with the bank. Can I cut the interest rates change? I saw the 09th February was lower than 4.79%. I feel like I have to be screwed. Other banks will not touch them because they say the value has dropped. You hear about deadbeat rescue for homeowners, but what is there to help businesses afloat?
Monday, January 25, 2010
Sba Loan Terms I Have A 504a SBA Loan For A Building In 2006 At 9.25% Interest, Will The Bank Modify The Rate Before I Fail?
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