Help Small Businesses and Save the SBA 504 FMLP & REFI Programs
  • Petitioned House Committee on Small Business & Senators Mary Landrieu & Olympia Snowe

This petition was delivered to:

House Committee on Small Business & Senators Mary Landrieu & Olympia Snowe
U.S. Senate
U.S. House of Representatives
Rep. Scott Tipton
Sen. Mary Landrieu
Sen. Angus King
Sen. Mike Enzi
Rep. Jaime Herrera Beutler
Rep. Mike Coffman
Sen. James Risch
New York-25
Rep. Dan Maffei
South Carolina-05
Rep. Mick Mulvaney
Rep. Sam Graves
Sen. Marco Rubio
Rep. Tammy Duckworth
Rep. Lois Frankel
Rep. Steve Chabot
Rep. Cheri Bustos
North Carolina-02
Rep. Renee Ellmers
Rep. Lou Barletta
Rep. Charles Boustany
Rep. John Delaney
Rep. Steve King

Help Small Businesses and Save the SBA 504 FMLP & REFI Programs

    1. Chris Hurn
    2. Petition by

      Chris Hurn

      Lake Mary, FL

The refinance provision of the U.S. Small Business Administration (SBA) 504 loan program allows small business owners to refinance commercial mortgages with longer-term, below-market, fixed interest rates afforded by the SBA 504 program. The First Mortgage Lien Pooling (FMLP) program creates a secondary market where lenders can re-sell a portion of SBA 504 first mortgage loans, allowing them to increase their liquidity and capacity to make more small business loans.

These two threatened initiatives significantly expand the benefits of SBA financing for small businesses and are in high demand as many small businesses wouldn't be able to obtain financing without them. SBA 504 refinances accounted for 14.7 percent of all SBA 504 loans made in the first quarter of 2012, and 20.6 percent of total SBA 504 dollars during that time period. Nearly 15 percent of all SBA 504 loans made today are FMLP loans and these loans are virtually the only outlet for what are classified as “special-purpose” owner-occupied property types.

The SBA 504 program, which helps small business owners acquire or develop their commercial property, has historically been a zero-subsidy program. It has been a fee-supported program, meaning that no tax dollars were required to keep it running. Loans made under this program have helped create hundreds of thousands of U.S. jobs, and if viewed over its lifetime, it has been one of the most cost-effective economic development programs ever created by the U.S. government.

Established by the Small Business Jobs and Credit Act of September 2010, both programs were subjected to severe bureaucratic delays — 14 months for the refinance program and 19 months for the FMLP program — which hampered their use and impact. To let these programs expire on September 27, 2012, as they continue to gain momentum and meet the small business credit marketplace needs, would be unwise and irresponsible. Both of these temporary SBA 504 loan programs have been scored as “budget-neutral” by the CBO due to their supplemental fees.

We encourage your support of this petition to get Congress to extend these beneficial, budget-neutral programs for at least one more year, in congruence with the spirit of the law that created them. 

Recent signatures


    1. American Express OPEN Forum

      Chris Hurn
      Petition Organizer

      American Express OPEN Forum has picked up our story! They're also looking for people who have experience with the SBA 504 Refinance Program, so here's a chance to tell your story...

    2. Huffington Post blog about the SBA 504 FMLP & Refi Programs...

      Chris Hurn
      Petition Organizer

      The Huffington Post published my latest column about the SBA 504 FMLP and Refi programs. Read and share it here:

    3. Reached 750 signatures
    4. Mention from

      Chris Hurn
      Petition Organizer

      Jim Cramer's picked up this petition in yesterday's installment of “3 Things You Should Know About Small Business." Take a look at the article and share it with anyone and everyone you think might find it interesting.

      Thanks for your support!

    5. Reached 250 signatures
    6. Top Economic Recovery Programs for Small Business Expire In September

      Chris Hurn
      Petition Organizer

      We have distributed a news release on our petition. Please help us spread the word.

    7. Reached 25 signatures


    Reasons for signing

    • Mary Robinson HEBRON, KY
      • about 2 years ago

      Because my brother is a small business owner and I think small businesses need all the support they can get. It's what this country was built on.

    • william robinson RIPLEY, OH
      • about 2 years ago

      trying to keep folks employed

    • Richard Murdoch OAKDALE, CA
      • about 2 years ago

      we need the help!

    • Moustafa masoud BENHA, EGYPT
      • about 2 years ago

      I'm studying small business this year

    • Richard Hallett WRIGHTWOOD, CA
      • about 2 years ago

      To create jobs


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