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504 Loan Fee Reductions Have Been Extended
On December 19, 2009, President Obama signed into law the Department of Defense Appropriation Act of 2010, which extends the temporary fee relief that originated with the American Recovery and Reinvestment Act of 2009 (signed in February 2009). For all SBA 504 loans approved on or after 12/19/09, SBA will continue to temporarily eliminate the CDC Processing Fee and the Third-Party Participation Fee.
These fees will be eliminated until the aggregate dollar amount of 504 loans made under this authority exhausts the funds dedicated to that purpose. SBA estimates that this extension will allow fee relief through approximately February 28, 2010.
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