• Home
• About Us
  • Company History
  • Mission Statement
  • Meet our Staff
  • Meet our Board
• Lines of Business
  • SBA 504 Lending
  • Management Consulting
  • Financial Brokerage
  • Economic Development Administration
  • Lending
  • Real Estate and Incubator Holdings
  • Venture Capital Investments
• SBA 504
  • Program Description
  • Program FAQ
  • Aplication Packet
• Advantages
• Projects
• FAQ
• Contact Us

SBA 504 Loan FAQ

SBA 504 Loan Program FAQ

• What is the purpose of the SBA 504 Loan Program and why does it exist?
• What is a Certified Development Company (CDC)?
• What is the role of Access Business Development " Finance, Inc. (ABDF)?
• Who benefits from the SBA 504 Loan Program?

Top

Source of Program Funding

• Where do the loan funds come from?
• Why is the source of the loan funds important to the program's existence?
• Should I be concerned about the availability of loan funds for my project?
• What role does SBA play in accessing the loan funds?
• What role does Access Business Development " Finance, Inc. play in accessing the loan funds?
• What is the relationship between Access Business Development " Finance, Inc. and SBA?

Top

Eligibility

• What are the basic eligibility requirements for SBA 504 Loans?
• What types of businesses are ineligible for SBA 504 Loans?
• What can the SBA 504 Loan be used for?
• Are there restrictions on how SBA 504 Loans can be used?
• Are farming enterprises eligible?
• Does SBA give special consideration to veterans?
• What are SBA's lending criteria?
• What is ABDF’s service area for the SBA 504 Loan Program?

Top

Fees and Various Other Disclosures

• What is the application deposit agreement?
• Are there any origination fees associated with the SBA 504 Loan Program?
• What are debenture soft costs?
• What is the interest rate under the SBA 504 Loan Program?
• Is there a pre-payment penalty under the SBA 504 Loan Program?
• What are miscellaneous billings?

Top

The Application and Checklist

• Why do I apply for a SBA 504 loan with the Access Business Development & Finance, Inc. rather than the SBA or other CDC's?
• What are the requirements for applying for a SBA 504 Loan through Access Business Development & Finance, Inc.?
• How can I get a copy of the application and checklist?
• How do I obtain the forms referenced on the checklist?
• If I have questions, whom do I speak with and how do I contact them?

Top

The Approval Process

• How long before I know whether or not I've met all of the application requirements?
• How long before I know if my loan is approved or not?
• How will I be informed?
• If approved, what happens next?
• What if I disagree with the decision?

Top

The Closing Process

• What is the closing process for a SBA 504 Loan?
• How will I know what items I am responsible for supplying?
• What about the bank loan closing?

Top

The Funding Process

• Is anything required of me during the funding process?
• What actually happens?

Top

FComparisons to 7A and Conventional Financing

• How does the SBA 504 Loan Program compare to the SBA 7A Program?
• How does the SBA 504 Loan Program compare to conventional financing?

Top