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What to do?

I have a commercial building with a restaurant operating. I purchased the property 5 years ago, the balance on the note is 98k. The purchase was done with a SBA loan, 15yr term with flex rate. Since last year my interests on my statement showed that it had drop from 9% down to 6%. I would love to re-finance to a fix rate with a different lender but have always been quoted 10% interest on the new loan, why so hi? Plus way too many requirements? Been trying to refinance for 8 months but get discouraged and quit. What lender do you recomend that would have a no pressure, straight up answers and good customer service?
  • February 14 2009 - Kenai
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Answers (3)

Ok, then hopefully someone doing comm loans will respond with their contact info that can help you, good luck.
  • February 14 2009
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No.
  • February 14 2009
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If your current lender will not refi to a fixed rate and you can not get a good deal elsewhere, do you have enough equity in your primary residence to do a cash out and payoff the comm loan?
  • February 14 2009
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