504 Loan Closing

PLEASE NOTE: When purchasing training courses, each individual MUST log into the system with their unique login and purchase their own session in order to receive a certificate of course completion in the attendee’s name. You cannot register multiple people for training courses under one login. If you need assistance registering for online training courses, please email Evan Shaw at eshaw@nadco.org before completing your purchase.

TUITION FEES

NADCO Member Rate:  $949 per person

Non-Member Rates:  $1,349 per person

SBA | Federal Government Rate:  $899 per person

RECOMMENDED FOR

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

COURSE SUMMARY

This course 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”.

FEATURED TOPICS:

• 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 Terms and Conditions (fka Loan 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
• 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 Community Advantage Small Business Lending Companies (CA SBLCs)
• Case Study

OTHER RECOMMENDED TRAINING FOR PARTICIPANTS

INSTRUCTORS

Todd Kobernick, Attorney
Law Offices of Todd E. Kobernick

Wayne Williams, EVP Regulatory Affairs & Training
National Association of Development Companies (NADCO)

Kisha Gant, SVP Closing & Servicing
TMC Financing

Jessica Peychev, VP Closing Manager
TMC Financing

Victor Diaz, Shareholder
Starfield & Smith, PC