In accordance to SBA’s SOP 5010 5 (C), when obtaining a 504 or 7a Loan SBA requires an Environmental Investigation of all commercial Property upon which a security interest such as a mortgage, deed of trust, or leasehold deed of trust is offered as security for a loan or debenture. The type and depth of an Environmental Investigation to be performed varies with the risks of Contamination. Here i... Read More »
Typically, when a lender is considering a real estate secured loan collateralized by a gas station, the environmental risk associated with the real estate can be a major factor in the lending decision. Read More »
Entry by: Gary Reynolds So what report do you need for your 504 or 7a loan? This depends on the current and past businesses that occupied your property. SBA has created a NAICS codes list of “Environmentally Sensitive Industries”. The type and depth of an environmental investigation to be performed varies with the risks of contamination. The higher the risk for contamination, the more ... Read More »
