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Loan Process
PrePre-Application
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  • Determine if project is eligible
  • Initial meeting with lender & borrower
  • Lender approval & commitment letter
PrePackaging/SBA Approval
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  • SBCC obtains required documents from borrower & lender to perform underwriting for SBA
  • SBCC submits package to SBCC board for approval
  • SBCC submits package to SBA for approval
PreInterim Financing
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  • SBA issues Terms & Conditionsorrower
  • Appraisal & environmental requirements approved
  • Interim financing provided by lender
PreClosing/Debenture Sale
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  • Project construction is completed and occupying building
  • 504 loan is closed, debentures are sold, lender is paid down
  • At this time the borrower will have two loans; SBCC will service the SBA loan
Fair Lending Policy
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In keeping with its economic development mission, SBCC is committed to the principles of fair or equal opportunity lending.  A consistent and high level of assistance and servicing will be provided to all small business or business owners regardless of race, national origin, religion, sex, age, marital status, disability, receipt of public assistance, or other factors.  Underwriting standards will be applied fairly and consistently permitting access to credit for  abroad range of customers.  Applicants with equivalent credit qualifications will receive the same consideration.
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