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Gary Reynolds wrote a new blog post: Understanding SBA SOP 5010 5 (C) 1 year ago
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 ? [...]
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Gary Reynolds wrote a new blog post: SBA 504 Refinance Updates 1 year, 3 months ago
In September 2010 the Small Business Jobs Act was passed into law. Yesterday the rules for the refinance mechanism within the 504 loan program were announced. This program will provide a significant tool for small business owners to refinance existing 504 program eligible debt. Some key points from the new 504 Refi rules: Eligibility Three…[Read more]
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Gary Reynolds wrote a new blog post: SBA Loan Requirements 1 year, 3 months ago
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 [...] -
Gary Reynolds wrote a new blog post: SBA Environmental- A Guide to Environmental Reports and Requirements 1 year, 4 months ago
Why SBA Requires Environmental Reports : The costs of Remediation could impair the borrower’s ability to repay the loan and/or continue to operate the business; The value and marketability of the Property could be diminished. If the borrower defaults, lender or SBA might have to abandon the Property to avoid liability or accept a reduced price…[Read more] -
Gary Reynolds wrote a new blog post: Phase I Environmental Site Assessment – SBA 1 year, 4 months ago
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…[Read more]
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Gary Reynolds wrote a new blog post: Summary of the SBA’s SOP Environmental Policy Revisions in SBA SOP 50 10 5 (C) 1 year, 8 months ago
The SBA published their latest update their environmental policy in SOP 50 10 5 (C) . The SOP revisions take effect on October 1 st, 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 [...]
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Gary Reynolds became a registered member 2 years, 4 months ago
