by Jana' Nyholm | Sep 9, 2021 | Industry Insights
Each year SBA reviews certain fees payable to SBA by 504 borrowers to determine if any of those fees need to be adjusted to cover the estimated subsidy costs of the 504 loan program. SBA has announced that the following fees are effective for loans approved October...
by Jana' Nyholm | Feb 18, 2021 | Announcements, Industry Insights
On February 16, 2021, SBA issued a Procedural Notice (Click here for SBA Procedural Notice 5000-20095) detailing reduced debt relief benefits to 7(a), 504, and Microloan Programs due to insufficiency of funds. SBA has determined that the original $3.5 billion,...
by Jana' Nyholm | Jan 26, 2021 | Industry Insights
The Economic Aid Act enacted December 27, 2020 expanded the eligibility of payment subsidies for 7(a) and 504 loans under Section 1112 of the CARES Act. To better assist our lending partners in understanding the expanded eligibility for Section 1112 payment subsides,...
by Jana' Nyholm | Jan 25, 2021 | Industry Insights
With the Economic Aid Act-New COVID Relief, there will be exciting changes coming to the SBA 504 Loan Program! Information is limited at this time and will be forthcoming from SBA. Stay tuned to MBFC as your information source for additional email updates and lender...
by Jana' Nyholm | Apr 1, 2020 | Announcements, Industry Insights
The following information has just recently been released by NADCO, (National Association of Development Companies): The 504 Loan Program Central Servicing Agent (CSA) has relayed to NADCO that it will NOT apply an ACH debit to the borrower’s account to cover the loan...
by Jana' Nyholm | Mar 19, 2020 | Industry Insights
For those who have not yet seen the most recent updates from the MN SBA District Office, please see below and pass along to anyone who may be interested. WHAT’S HAPPENED SO FAR? The SBA will be providing small business assistance through the Economic Injury Disaster...
