Getting Started

The SBA 504 loan process can be very intimidating for borrowers as well as lenders/credit unions. Thankfully the amount of paperwork has declined over the years as SBA migrates towards the use of digital forms and electronic submissions of documents/files. This streamlined process enables many 504 loans to be completed in as little as 60 days, (which is just as fast as a conventional loan) and SBA loan commitments are approved in days, not weeks.

How Do I Get Started?

• If you have a project you believe is eligible for an SBA 504 loan, contact us! We will be happy to walk you through the process as well as offer guidance on completing the SBA 504 loan application.
• SETEDF has relationships with most SBA participating lenders within our area of operations. Just let us know who your lender is, and we will do the rest!

What If The Borrower Does Not Have A Participating Lender?

• Not a problem! Just inform us and we will locate a specialized lender for your project. We will not charge you a fee for our assistance.

Are There Any Up-Front Costs?

• As with most other loan programs, deposits are a part of the process and are usually a requirement. SETEDF does collect a $2500 non-refundable deposit before the SBA 504 loan packaging begins. If the loan involves construction, “two-thirds” of the CDC Processing Fee will be earned and due to SETEDF at the time SBA approves the loan. Upon funding of the 504 loan, the CDC Processing Fee will be refunded to the borrower.

Do you already have documents ready to send?

• Use our secure document upload feature here. We will receive the files you submit through this portal, and your confidential information will remain safe.