BACK TO BORROWERS
Planning for Growth
Bringing the right experts together is important to the success of any project. And that’s why it’s important that you have all the information right from the start. That’s where California Statewide CDC can help. As experts in the SBA 504 Loan Program, we lay the foundation for a successful loan process.
- Project discussion
- Financial capacity review
- Program overview
With our experienced team of 504 lending professionals, we take a personal approach; bringing clarity to the loan process, making it faster and easier for all parties.
Financing in Process
- Required documentation for loan package is collected from the business
- California Statewide analyzes and organizes documents and information
- Loan package is completed; business reviews and signs package
- Loan package is submitted to SBA
California Statewide CDC works closely with your first mortgage lender, escrow officer, broker, and CPA to help eliminate redundant requests for documentation. We streamline the process and minimize the chance for problems so that nothing stands in the way of your needed financing.
Bank Financing Completed
- Lender approves loan
- SBA approves loan
- Environmental and appraisal are reviewed and approved
The lender closes the first escrow. California Statewide records deed of trust. Congratulations, you own your own building!
504 Financing Completed
- A California Statewide attorney works with the business to prepare closing documents for a permanent SBA loan
- California Statewide attorney submits final closing package to SBA
- SBA typically funds within 60-90 days of close of escrow or completion of construction where applicable