Loan Process
PrePre-Application
  • Determine if project is eligible
  • Initial meeting with banker & borrower
  • Bank approval & commitment letter
PrePackaging/SBA Approval
  • SBCC obtains required documents from borrower & banker
  • SBCC submits package to SBCC board for approval
  • SBCC submits package to SBA for approval
PreInterim Financing
  • 504 Loan Authorization issuedborrower
  • Appraisal & environmental requirements submitted
  • Interim financing provided by bank
PreClosing/Debenture Sale
  • Project construction is completed or occupying building
  • 504 loan is closed, debentures are sold, bank is paid down
  • At this time the borrower will have two loans; SBCC will service the SBA loan