Thanks again for registering for our Seminar Series event. In case you weren't able to attend, no worries, we've got you covered.
In the link below feel free to open and download our Powerpoint presentation. The other links give you quick access to more information on the 504 program and Lender Services as well. As a reminder, if you're interested in co-branding with us, contact Darren Paul at dpaul@wbd.org for more details.
- Presentation PDF
- SBA 504 Loan Program Resource Page
- 504 Program Info Sheet
- WBD Lender Services Information
Here are some updates that we included in our presentation:
- SBA Application processing times remain swift at to 2-3 Business Days, shortening the overall 504 approval proces
- WBD is an ALP Express lender, allowing even faster SBA turns for qualified projects where the 504 loan is $500M or less
- Simultaneous closings remain available for some purchase & refinance transactions
- Full changes of ownership & partial changes of ownership can both be eligible for 504 financing
- Character Determinations (i.e. prior arrests) are streamlined & delegated to WBD as the CDC
- The MySBA Portal allows borrowers access to all of their existing SBA debt, including 504 loans
- Higher Size Standards & Fewer Businesses Considered Affiliates:
- This opens up additional SBA lending to many industries
- In some cases, less information will be required on related businesses
…..AND we await positive changes to the 504 refinance program that will open up opportunities to assist more small business borrowers- especially those with balloon notes coming up for renewal.
All of the above provide the potential for the 504 program to assist more small business in a more efficient fashion.
