504 Loan Closing

Two Day Course
Monday - Tuesday | August 1-2, 2022
8:30 AM - 5:00 PM


TUITION FEES

Through 6/28

After 6/28
NADCO Member Rate $649 per person $699 per person
Non-Member Rates $949 per person $999 per person
SBA | Federal Government Rate $549 per person $599 per person


RECOMMENDED FOR

CDC Loan Closers (especially if newer to role)
CDC Attorneys
Attorneys applying for SBA Designated Status


COURSE DESCRIPTION

This two day in person is approved by the US Small Business Administration and provides invaluable training for anyone involved in closing SBA 504 loans, including CDC staff and legal professionals. The course fulfills SBA’s requirement for attorneys attending an SBA-Approved Closing Course to become a “Designated Attorney”.

Featuring:
  • Overview of Certified Development Companies
  • Overview of SBA 504 Loan Program – eligibility, application, processing, and underwriting
  • Ethical Responsibilities and Governance Requirements
  • Designated Attorney Roles and Requirements for SBA 504 Closing Process
  • Applicable Laws, Regulations, SBA Standard Operating Procedures (SOPs), and Other Resources
  • SBA 504 Authorization
  • Borrower, Operating Company, and Guarantor Entities
  • Eligible Passive Company (EPC) Rule
  • Eligible Project Costs
  • Real Property and Other Collateral Considerations
  • Construction Requirements
  • Insurance Requirements
  • Environmental Requirements
  • SBA 504 Debt Refinancing Programs
  • Special Considerations – Historic Properties, Franchises, Management Agreements, & More
  • Specific 504 Loan Closing Issues Related to the COVID-19 Pandemic
  • SBA 504 Loan Closing Attorney Opinion Letter
  • Submitting a Complete Closing Package to SBA Local Counsel
  • Overview of SBA 504 Funding Process
  • Overview of SBA 504 Loan Servicing Responsibilities
  • Overview of SBA Community Advantage Loan Program and Closing Process
  • Case Studies

PREREQUISITES

“Introduction to SBA 504” (online via NADCO University) OR six-months’ experience in a substantive capacity (e.g., loan officer) for a CDC.


OTHER RECOMMENDED COURSES FOR PARTICIPANTS

CDC Closing Hot Topics
CSA Servicing and Modernization Updates Luncheon

INSTRUCTOR INFORMATION

Todd Kobernick
Mr. Kobernick commenced practicing law in the State of California in 1984 focusing on understanding and resolving the issues of his clients. Mr. Kobernick represents individuals, small and medium sized business entities, including nonprofit corporations along with lenders and economic development companies. Mr. Kobernick focuses his practice in economic development and lender related activity, representing the largest U.S. Small Business Administration certified development company in the nation.

Mr. Kobernick has been and remains involved with the National Association of Development Companies, teaches multiple courses for NADCO and is a member of the NADCO Closing, Servicing and Attorney Advisory committees. Mr. Kobernick has assisted the SBA in reviewing certain SBA 504 Loan Closing policies and communicates frequently with the Office of General Counsel on a broad variety of matters.

Mr. Kobernick is involved with his community by serving on several Boards of Directors of nonprofit organizations. Most recently, Mr. Kobernick founded a camp for youth and families, which operates during the entire year.

Mr. Kobernick attended the University of San Diego, graduating in 1984. He is admitted to the State Bar of California, United States District Court for the Southern and Central Districts of California, the United States Tax Court. Mr. Kobernick is certified by the U.S. Small Business Administration as a "designated counsel" authorized to provide specified legal services for SBA certified development companies.

Carmi Salvador
Carmi Salvador joined the Law Offices of Todd E. Kobernick in June 2019 as a Loan Coordinator. Ms. Salvador has over 20 years of experience in the banking & small business lending industry, including processing expertise in SBA programs. Prior to joining the firm, she was a member of the closing management team of one of the biggest SBA Preferred Lenders in the country. Her portfolio includes Standard 7(a), 7(a) Small Loan, SBA Express & 504 programs.