SBA Rates 5.783% 10yr 6.136% 20yr 6.067% 25yr | SBA Refi Rates 5.819% 10yr 6.057% 20yr 6.096% 25yr | Prime Rate 7.00%
SBA504 LOAN PROCESS
Step 1
Determine Eligibility
Complete the Eligibility Form and a Loan Specialist will be in contact to discuss your project in detail.
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You may also book an appointment with a Loan Specialist to fast track your loan inquiry.
Step 3
Board and SBA Review
Once the application documents have been reviewed, the Loan Specialist will submit the loan package to the CDC Board. If approved, the loan request will be submitted to the SBA office for final approval.
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The CDC Board meets virtually every week (Tuesday - Thursday).
Step 2
Complete Application and Submit SBA Application Fee
Complete and submit the application documents to your Loan Specialist. Below is a list of the documents required for application.
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An application fee is due at time of application (1% of SBA loan up to $2,500).
Step 4
​Loan Approval
If your SBA loan request is approved, our Loan Specialist will review the Terms & Conditions with you.
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Unfortunately, there are times when the Board or SBA denies a loan. If this should occur, the application fee will be fully refunded. If this happens, you may choose to resubmit based on various factors.