June 5, 2018
SBA Hot Topic Tuesday — SBA 504 Quarterly Conference Call at 3 pm Eastern Today
By Bob Coleman
Editor, SBA Hot Topic Tuesday
SBA’s 504 Connect Call will be held today at 3:00pm ET. You can join in and listen to the following topics.
25 Year Debenture – Overview
Launch date – April 2, 2018; Federal Register Notice
Longer repayment term
Lower monthly loan payments
Project approved prior to April 2, 2018 may not be extended to 25 years
Third Party Loan term must be at least 10 years
As of June 1, 2018:
188 applications received
Modification of 20 year to 25 year Prior to Closing
Requests for term modification can be made after SLPC loan approval if approved on or after April 2, 2018
Submit 327 request in ETran with justification for the extended maturity
Applicant must provide written consent to the modification and CDC must retain in file
The term of the 504 Debenture may not be modified after the debenture closing request is submitted to SBA.
504 Loans – Appraisal Clarification
OCC, Board, and FDIC rule increases appraisal threshold to $500,000
Small Business Act states the SBA shall require appraisals at $250,000
Will require a legislative update to match Federal Regulator limits
The conference begins at 3:00 PM Eastern Time on June 05, 2018; you may join the conference 10 minutes prior.
Step 1: Dial into the conference.
Dial-in: 1-877-369-5243 or 1-617-668-3633
Access Code: 0826533##
Need an international dial-in number?
Step 2: Join the conference on your computer.
Entry Link: http://ems8.intellor.com/login/803946