Looking to Refinance Your Entertainment Business Property? | A ...

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

With all of the bling, glamour, bright lights, and serious cash associated with the entertaining industry, its no wonder why so many seek it out as a career choice. Of course, this doesnt always take the kind of a vocation either in front of the cameras or behind them. The entertainment industry also can include owning nightclubs, theatres, concert venues and theatres, comedy clubs, and even neighborhood pubs.

If you already own one of those firms, now might be a good time to think about refinancing a commercial entertainment building, especially if you got your original financing during the peak of the property bubble, with its overinflated real-estate values and assessments.

But how does one go about refinancing a commercial property building which may now only be worth a small part of what you paid for it, and less even the indebtedness on the first mortgage.

The Web site eHow.com offers 1 or 2 proposals for refinancing a commercial entertainment building. One.) Visit your bank or credit union and speak to a loan officer about the type of property you wish to refinance. 2.) Apply for the business mortgage program that meets you requirements. 3.) Submit the documents that she/he requests. And wait. And wait. And wait.

Of course, as with many things in life, there is a simpler, simpler, and less terrifying way to refinance an entertainment property. You might cut to the chase and apply right to Venture Funding Group for the Small company Administration (SBA) 504 Program.

Congress has allowed the SBA to confirm up to $15 billion in loans under this program thru the Jobs Act of 2012. No loan subsidies will be required from taxpayer funds. This programme is anticipated to benefit approximately twenty thousand small companies, including those refinancing a commercial entertainment building.

The SBA 504 Program is not a direct business loan from the govt. It is a government guarantee programme for loans obtained thru banks, credit unions, and other personal commercial banks. The rates are low and fixed for the length of the loan. Borrowers can still qualify with FICO scores below 680. And, perhaps best of all, under the SBA 504 Program, firms ( including those refinancing a commercial entertainment building ) can borrow up to 90 p.c of the loan-to-value (LTV) of any commercial real estate owned. Existing SBA 504 loans and other government-guaranteed loans are not suitable for refinancing under this program.

Entertainment location owners are finding out the proper way to finance up to $2 million using an SBA Company loan obtained thru the Venture Funding Groups SBA 504 program.

Venture Funding Group pioneered the Fast Track Program. This program digitizes your loan application documentation and gets it in front of the choice makers at a wide variety of sources virtually right away.

To learn more, click on www.thesbaloan.com now for your positively free consultation and information. Or call us at 1-800-578-4884, if you like.
.

Source: http://ablogaboutfinances.com/2011/looking-to-refinance-your-entertainment-business-property/

austan goolsbee ign bryce harper lenny dykstra holly bobo kotaku os x lion