C- Suite Wednesday — SBA 504 Loan Program Update and New Forms
June 8, 2016
By Bob Coleman
Editor, C-Suite Wednesday
SBA Sacramento Loan Processing Center
C- Suite Wednesday — SBA 504 Loan Program Update and New Forms
Several lenders have reached out to me expressing their frustration of SBA’ s recent email and 504 processing problems.
This is obviously a concern given the significant amount of refi applications beginning June 24th.
I want to know if the issue is widespread, or affecting an isolated few.
Please answer these quick two questions. Take the quick 15 second survey.
SBA’s recent email problems affected me:
- Significantly
- Some what
- Minimally
- No effect
SBA’s 504 Processing “outage” affected me:
- Significantly
- Some what
- Minimally
- No effect
Comments?
SBA has updated its 504 loan program forms to reflect the new debt refinance legislation. The notice and forms may be downloaded here:
- SBA Information Notice 5000-1383
- SBA Form 1244, Application for Section 504 Loans
- SBA Form 1506, Servicing Agent Agreement
- SBA Form 2234 Part B, Supplemental Information for PCLP Processing
- SBA Form 2234 Part C, Eligibility Information Required for 504 Submission (PCLP)
- SBA From 2288R, Interim Lender Certification for Refinanced Loan
- SBA Form 2450, Eligibility Information Required for 504 Submission (Non-PCLP)