February 6, 2014
SONOMA — The Sonoma Valley Health Care District announced it has completed refinancing of the 2009 General Obligation bonds, resulting in a $2.36 million reduction in interest paid on the bonds.
September 10, 2012
North Bay lenders are lamenting the imminent expiration of the U.S. Small Business Administration’s temporary 504 refinance program, which allows a one-time refinance of debt and reinvestment of equity.
The temporary program, launched by the Jumpstart Our Small Businesses (JOBS) Act of 2010, allows a small-business owner to refinance debt through the typical 504 loan structure used for financing property and other tangible assets: a 10 percent equity contribution from the borrower, a 40 percent, 20-year fixed-rate government loan and a 50 percent second mortgage from a second commercial lender. In combination, up to $10 million can be refinanced through the program.