The Small Business Administration is offering low refinance rates to help auto repair businesses.
Nov. 20, 2020—TMC Financing, a Certified Development Company, has seen an increase in interest regarding the U.S. Small Business Administration 504 loan program for independent and franchise auto repair businesses.
The SBA 504 loan program allows small business owners to refinance up to 85 percent of their property's appraised value and obtain up to 20 percent of the property's value in cash, according to a press release.
Barbara Morrison, founder and president of TMC, says in the release, "This cash can be used for qualified business expenses including salaries, rent, utilities, and inventory."
To learn more about the SBA 504 program, click here.
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