504 First Mortgage Lender Course

NADCO takes your success seriously, and our lender training program reflects that desire to give you the resources you need to be the best. Designed exclusively for CDCs, NADCO’s 504 First Mortgage Lender Course is geared exclusively toward the SBA 504 loan. Our comprehensive training is designed to give you the most complete picture possible.

504 First Mortgage Lender Training covers everything you need to know about the program, including:

• History of the 504 Program and Overview of the CDC Industry:
  • 504 - an economic stimulus
  • Minimums and maximums
  • Source of funds
  • The Certified Development Company

• Nuts and Bolts of the 504 Program:
  • Eligible and ineligible projects
  • Use of loan proceeds
  • The 50/40/10 typical structure
  • Guarantees
  • Credit, collateral, etc.
  • Packaging, approval and closing processes

• Why 504 is good for lenders:
  • Full lien with 50% participation
  • Less paperwork and red tape
  • Secondary market for 504 first mortgages
  • CRA credit
  • Advantages for borrower and community

• Economic Development Criteria

• Comparison with SBA 7(a)

Customize your Training!!!

There is a great deal of flexibility in offering the course. Your instructor will work with you, discussing your particular needs and concerns in order to optimize your learning experience.

Frequently Asked Questions on How to Arrange a Lender Training Course

Details on 504 First Mortgage Lender Training

Costs and Materials: NADCO training courses are very reasonably priced compared to industry standards. Both training and promotional materials are offered at cost. If you prefer to produce these items yourself, NADCO will provide you with a copy of the course manual.

Training options: NADCO is pleased to offer group lender training for those who wish to host a course, as well as individual lender training.

Who should attend: The SBA 504 First Mortgage Lender Course is designed for the following:

• Commercial Lending Officers
• Business Development Officers
• Economic Development Professionals
• Commercial Attorneys
• Commercial Realtors
• Accountants

Instructors

All NADCO instructors are CDC professionals with years of 504 lending experience. They have worked with CDCs and Affiliates nationwide to provide the best training in the industry.

Scott Davis is President of Mountain West Small Business Finance, Salt Lake City, Utah. Mountain West is the most active statewide CDC in the nation, with more than 1,400 loan approvals to date and a 504 portfolio exceeding $430 million. Scott has been involved for many years in SBA 504 policy-making at the national level, including two years as NADCO President (1991-93). He was instrumental in launching the industry's training courses ten years ago, and continues to play a crucial role in NADCO's 504 course development and presentation.

Tim Pierce has served as Director of Economic Development for the South Plains Association of Governments, a 15-county council of governments headquartered in Lubbock, TX, since 1985. He is responsible for a housing finance corporation, an EDA development district, an EDA revolving loan fund, and Caprock Business Finance Corp., an ALP and Priority CDC. Tim is a graduate of the Economic Development Institute, and served as Thesis Advisor and Discussion Group Leader for EDI from 1990 through 1996. He obtained his Certified Economic Developer (CED) designation from the American Economic Development Council in 1991. Tim served as President of NADCO from 2001 to 2003, served two terms as NADCO's Vice President for Membership and Training (1998-2000); and as Vice President for Technical Issues from 2000-2001.

For information on how to arrange a 504 First Mortgage Lender Training course, please contact NADCO at (703) 748-2575.