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SBA 504 Cheat Sheet: COVID Relief/Stimulus Bill

January 8, 2021 | Company News
covid relief blog photo

Are you a banker or broker that refers clients to the SBA 504 Loan?

Your CDC Small Business Finance SBA 504 team has identified key information and benefits of the new Covid Relief/Stimulus Bill to help you stay informed.  We have read through all the details and, as always, we are committed to helping you stay up to date on the provisions that relate to the SBA 504 program and matter for you and your clients.

Get a Head Start on the Opportunities Ahead:

We highly recommend you stay in close contact with one of our SBA 504 Loan Experts for the latest details.

SUMMARY FOR SBA 504

Many of the relief provisions elevate the SBA 504 program to be an even more attractive loan product in the current environment.  The summary below provides you a roadmap of what is expected in the SBA Notice.  

We expect the SBA Notices for provisions one thru three to be released by Friday, January 8th.  The SBA Notices with guidance for implementation of provision four and five to come later in January, 2021.

 

1. TEMPORARY FEE ELIMINATION FOR THE 504 LOAN PROGRAM

 

2. REFINANCING SENIOR PROJECT DEBT  (Strong client retention tool)

 

3. EXTENSION OF CARES ACT SECTION 1112 PAYMENT SUBSIDIES (awaiting specific details)

 

4. EXPRESS LOAN AUTHORITY FOR ACCREDITED LENDERS – 504 EXPRESS LOAN PROGRAM

 

5. 504 DEBT REFINANCE 

REFINANCING NOT INVOLVING EXPANSIONS

 

6. DEBT REFINANCE WITH EXPANSION 

Have questions?

Contact one of our SBA 504 loan experts who can answer questions and keep you up to date.


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