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SBA

How LEED Can Help You Qualify For SBA 504 Funding

The US Small Business Association (SBA) recently made some changes to its 504 Loan Program. The program, which offers loans with low down payments and low, fixed long-term interest rates, normally requires that borrowers have projects that will deliver certain public benefits such as job creation and a number of community development goals.  But, the SBA 504 Loan program also includes a number of ... Read More »

Environmental Bankers Association San Francisco 2013 Recap

This year’s bi-annual summer Environmental Bankers Association (EBA) meeting was held in San Francisco earlier this week. As expected, we covered many interesting topics of particular concern to the environmental professional and lending communities. Lawyer-Speak The kick off panel for the EBA San Francisco conference consisted of four lawyers covering trends in banking, business and real estate t... Read More »

Understanding SBA SOP 5010 5 (C)

Since the latest revision to SBA’s SOP 5010 5 (C), that came out in October 2010, I have been asked some reoccurring questions in regards to the Environmental Requirements on 504 and 7a loans. One of those reoccurring questions is when there is a NAICS Codes match does it mean that I will have to have a Phase I AAI Compliant ESA?  The answer to this is a definitive YES, and NO! Take a look at SOP ... Read More »

SBA 504 Refinance Updates

Small Business Jobs Act and rules for refinancing within the SBA 504 loan program Read More »

SBA Loan Requirements

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 is ... Read More »

Phase I Environmental Site Assessment – SBA

You’ve been told you need to have a Phase I Environmental Site Assessment (ESA) and now may be looking for answers to the questions: Why you need one Where you get them How much they cost How long do they take Will it meet the Small Business Administration (SBA) environmental requirements . When ordering a Phase I Environmental Site Assessment (ESA) you want to make sure that: It is AAI (All Appro... Read More »

Summary of the SBA’s SOP Environmental Policy Revisions in SBA SOP 50 10 5 (C)

The SBA published their latest update their environmental policy in SOP 50 10 5 (C).    The SOP revisions take effect on October 1st, 2010 we should all bone up on a few of the new elements of SOP 5010 5 (C) (pages 199 – 206 & 310 – 317). One now technical, but important point, is that the Reliance Letter has had a revision and the Reliance Letter from SOP 5010 5 (B) will no longer be accepted... Read More »

Environmental Due Diligence: Phase I ESAs and Other Options

If you are buying a commercial property, you need to do environmental due diligence.  The gold standard for due diligence is the Phase I Environmental Site Assessment.   The Phase I ESA is basically a research project into the properties current and past use and how these uses could potentially affect the environment.   As a buyer, you want to make sure that you don’t get stuck cleaning up someone... Read More »

SBA Reports

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 in-depth... Read More »

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