Edit, Download, and Sign the U.S. Small Business Administration Application for Section 504 Loans

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How do I fill this out?

To fill out this form, you need to provide detailed information about your business and its ownership structure. Ensure all required sections are completed and signed. Attach the necessary exhibits and submit them to the Certified Development Company.

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How to fill out the U.S. Small Business Administration Application for Section 504 Loans?

  1. 1

    Collect all required business information including ownership structure.

  2. 2

    Complete Section One and Section Two with accurate details.

  3. 3

    Have the required parties review and sign Section Three.

  4. 4

    The CDC completes Section Four.

  5. 5

    Submit the completed form along with the necessary exhibits.

Who needs the U.S. Small Business Administration Application for Section 504 Loans?

  1. 1

    Small business owners applying for a Section 504 loan.

  2. 2

    Certified Development Companies submitting applications on behalf of applicants.

  3. 3

    Businesses with ownership structures requiring detailed disclosures.

  4. 4

    Enterprises seeking to provide information on employment impact as a result of the loan.

  5. 5

    Companies needing to demonstrate compliance with government agency requirements.

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What are the instructions for submitting this form?

Submit the completed form along with the necessary exhibits to the Certified Development Company (CDC). The CDC will then upload the information to the SBA's E-Tran system. Ensure all sections are completed and signed, and include any required evidence of compliance for ownership by ESOP, 401(k), trust, or cooperative. For any questions or assistance, contact your local CDC or visit the SBA website for additional resources.

What are the important dates for this form in 2024 and 2025?

Expiration Date: 12/31/2024

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What is the purpose of this form?

The purpose of this form is to facilitate the application process for Section 504 loans offered by the U.S. Small Business Administration (SBA). It collects essential information about the small business applicant, its ownership structure, and financial details to determine eligibility for the loan program. The form also requires disclosure of any affiliations, previous loan applications, bankruptcies, or pending lawsuits related to the applicant business. This comprehensive disclosure ensures a thorough review. By completing this form accurately and providing all required information, businesses can comply with SBA's regulations and improve their chances of loan approval.

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Tell me about this form and its components and fields line-by-line.

This form comprises multiple sections, each designated for specific information and required disclosures.
fields
  • 1. Business Information: Includes Applicant Name, Legal Name, Business Address, DBA, Legal Structure, Tax ID, DUNS Number, Contact Information, and Business Web Address.
  • 2. Operating Company Information: If Applicant is an Eligible Passive Company (EPC), this section captures the details of the Operating Company (OC) including Legal Name, Address, DBA, Legal Structure, Tax ID, DUNS Number, Contact Information, and Business Web Address.
  • 3. Project Information: Summary Description of the type of business, number of existing employees, jobs to be created or retained, loan amount requested, and purpose of the loan.
  • 4. Business Affiliates: Disclosure of any business affiliates as part of Exhibit 10.
  • 5. Previous Loan Applications: Details of any previous loan applications or guarantors on such loans as part of Exhibit 9.
  • 6. Bankruptcy: Details and relevant documents related to any bankruptcy declarations in Exhibit 27.
  • 7. Pending Lawsuits: Details and relevant documents related to any pending lawsuits in Exhibit 27.
  • 8. Employee Stock Ownership Plan (ESOP): Evidence of compliance for businesses owned by an ESOP or 401(k) plan.
  • 9. Business Ownership: Disclosure of 100% ownership details and Key Employees without ownership stakes.
  • 10. EPC Ownership: Owner/Entity Name, Title/Organization Type, SSN/TIN, and Ownership % for Eligible Passive Companies.
  • 11. OC Ownership: Owner/Entity Name, Title/Organization Type, SSN/TIN, and Ownership % for Operating Companies.

What happens if I fail to submit this form?

Failure to submit this form can result in delays or denial of the loan application.

  • Eligibility Verification: The SBA may not be able to verify the applicant's eligibility, affecting loan approval.
  • Incomplete Application: The application may be deemed incomplete, requiring resubmission and causing delays.
  • Non-compliance: Failure to provide required disclosures may result in non-compliance with SBA regulations.

How do I know when to use this form?

Use this form when applying for a Section 504 loan through the U.S. Small Business Administration.
fields
  • 1. Loan Application: When seeking long-term financing for fixed assets.
  • 2. Business Expansion: To fund business growth and development projects.
  • 3. Job Creation: To create or retain jobs as a result of business financing.
  • 4. Ownership Disclosure: To provide ownership and key employee details.
  • 5. Regulatory Compliance: To comply with SBA's application and disclosure requirements.

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