Business OwnersResources

What to Expect – Step by Step

Applying for Your SBA Loan


  • Our loan Specialist assemble the corporate, financial and personal information required for your application and SBA loan package.
  • On a parallel track your bank is securing approval of the first-lien mortgage of your finance package.
  • Our loan Specialists will coordinate closely with your bank to avoid process duplication.
  • Next, CDC approves the SBA loan package and arranges for SBA authorization of funds.

Initial Funding – Your Bank


  • With SBA’s authorization, your bank will normally fund two loans to close, the primary one being a first lien mortgage.
  • As part of this transaction, your bank will also issue a temporary “bridge” loan to provide interim, additional financing while your SBA 504 loan is prepared for funding. This bridge loan is eventually paid off with your504 loan (the second lien mortgage).

Closing Your 504


  • Once you move into your new/ expanded building, we accelerate our 504 funding process to pay off the bank’s bridge loan.
  • We’re in constant touch with your bank and other entities involved with our funding preparing your final 504 loan documents. Our loan specialists will contact you for closing checklist items not already provided by the bank. (We will need updated financial information.)
  • Next, we arrange to have you sign your final SBA loan documents for funding.

504 Loan Funding


  • We submit your documents to the SBA’s District Counsel for approval.
  • Your loan is pooled with other 504 loans from various communities and funded via the sale of federally insured bonds to private investors. Your interest rate is locked in at this time based on current market conditions.
  • Your bank bridge loan is paid off with the proceeds from the bond sale and replaced with your permanent SBA 504 loan.
  • You will receive your loan payment schedule about 1 week.

Contact us today to get started!

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