SBA 504 Rates and Express Loan Program

SBA recently launched the SBA 504 ALP Express loan program. This enables accredited CDCs like TCM to make credit decisions on SBA 504 loans in the amount of $500,000 or less (including fees).  This program is anticipated to reduce overall SBA turnaround times for quicker loan approvals.

Eligibility requirements for the new program include:

• Projects in which the 504 SBA Loan is $500,000 or less (including fees).  Requests for increases bringing the SBA loan to more than $500,000 will move the application back to the standard processing procedures.

• Projects meeting standard SBA 504 Program eligibility requirements for financing of purchases, refinances, or new construction.  Targeted overall projects would be those up to approximately $1.2 million with bank/credit union loans of up to approximately $600k.

• Currently, there are no industry restrictions for program participation. Going forward, SBA will annually assess if there are higher risk industries that will fall outside program parameters.

Reach out to one of our Loan Officers to see if your loan can be an ALP Express Loan!