NADCO Attorney Affiliate Membership - $595 Annually

*NOTE: All memberships are from October 1 to September 30 the following year and 25% of membership dues are non-deductible.

Overview

NADCO Attorney Affiliate Membership is open to all attorneys who are interested or involved in the 504 Loan Program.

As members of NADCO, Affiliate Attorneys benefit from being listed on the NADCO website and receive discounts on training courses.

Benefits

NADCO encourages all Designated Attorneys and those interested in becoming designated, to join NADCO. We provide a wealth of information to members including sample forms that can be downloaded from this website, modified and used for closing SBA 504 loans. We also provide a listing of attorneys who are NADCO members as a resource for CDCs. Members are kept informed of any legislative or regulatory changes affecting the SBA 504 industry and notifies members immediately when requirements change in packaging, closing and servicing loans via Technical Issues Memos. Membership also entitles members to attend training and meetings at a reduced fee.

NADCO provides the following added benefits of to Attorney Affiliate Members: Broadcast email of urgent regulatory and legislative updates, technical issue notices and important membership information. Law firm members lists on our website to encourage individuals seeking 504 assistance to search amongst local 504 closing attorneys/law firms by state in order to seek counsel from our member attorneys. Substantial discounts on NADCO’s professional 504 training programs and meeting registrations. Access to the "Members Only” section of the NADCO website. Member-only website information including sample forms used for SBA 504 loans, detailed information on technical issues, and legislative updates on the SBA 504 program.

Membership Application

If you are interested in becoming a member, please complete and submit the Affiliate Membership application here.

504 Loan Closing Attorney Information

Each SBA 504 Loan that is approved must be closed with the assistance of an attorney who provides the mandatory opinion of CDC counsel. Any licensed attorney can close an SBA 504 Loan. The SBA, however, in an effort to speed up the review of 504 loan closings, instituted the expedited closing procedure for closing attorneys to build expertise, receive training and become prequalified to submit loans to their SBA District Counsel. The attorneys who complete the procedure are approved as "SBA 504 Designated Attorneys." SBA outlines the requirements for attorneys interested in becoming "Designated Attorneys" in SOP 50 10 6.

Click here to review the SBA SOP requirements (beginning on page 378). NADCO presents the SBA-approved training courses that are required for Designated Attorneys. Regardless of whether an attorney wishes to become a Designated Attorney or not, the training is helpful for all attorneys and their staff, as well as CDC personnel handling SBA 504 loan closings.

504 Loan Closing Course and 504 Loan Closing Update Course

504 Loan Closing Course. The two-day 504 Loan Closing course must be attended in its entirety by anyone wishing to become an SBA 504 Designated Attorney. 504 Loan Closing Update Course. The online 504 Loan Closing Update course must be taken by Designated Attorneys every two calendar years to insure that the Attorney remains curent on legislative or regulatory changes to the 504 Loan closing process.

At the conclusion of each of the courses, NADCO forwards a list of participants to the SBA to update their records. NADCO usually offers the 504 Loan Closing Course in conjunction with NADCO's Annual Meeting in the fall and a full week of in-person training courses during the winter/early spring. Please visit our Events/Calendar to view up-coming training opportunities.

If you are interested in becoming a member, register online today. Annual dues for Affiliate Members are subject to change and can be found at registration. If you have any questions regarding membership, please contact Mandy Robertson at mrobertson@nadco.org.