A permanent change to a long-standing Small Business Administration program means small companies can now refinance existing loans used to purchase real estate and other fixed assets, helping their ability to grow.

Under a provision of the American Recovery and Reinvestment Act that was just implemented by the SBA, small businesses can restructure eligible loans made under the agency’s 504 Certified Development Company loan program to help their cash flow and support job creation.

The 504 program, administered through 271 certified development companies nationwide, can be used to buy property, heavy equipment or machinery or to expand current development projects.