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Loan Process
PrePre-Application
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  • Determine if project is eligible
  • Initial meeting with lender & borrower
  • Lender approval & commitment letter
PrePackaging/SBA Approval
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  • SBCC obtains required documents from borrower & lender to perform underwriting for SBA
  • SBCC submits package to SBCC board for approval
  • SBCC submits package to SBA for approval
PreInterim Financing
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  • SBA issues Terms & Conditionsorrower
  • Appraisal & environmental requirements approved
  • Interim financing provided by lender
PreClosing/Debenture Sale
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  • Project construction is completed and occupying building
  • 504 loan is closed, debentures are sold, lender is paid down
  • At this time the borrower will have two loans; SBCC will service the SBA loan
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