The SBA can help small businesses refinance existing real estate loans via the 504 loan program.   This program became available for small businesses on June 23, 2009 – which makes use of a provision in the economic stimulus legislation.  This can help small businesses that have heavy leverage or are coming up on a balloon payment deadline.  However, this is only available if the business is growing.   These government guarantees loans are available from non-profit organizations known as “certified development companies (CDC’s), which affiliate or partner themselves with commercial lenders.  This program provides fixed-rate financing to small businesses for fixed assets such as building, land & equipment.  Under the recent changes to the program, small businesses can refinance existing debt related to fixed assets if they also borrow money to finance more real estate or equipment.  The amount of debt being refinanced must be 50 percent or less of the total cost of the expansion.  The refinanced debt must be collateralized by fixed assets.