The U.S. Small Business Administration ("SBA") has designated June 1, 2016 as the relaunch date for the SBA 504 Debt Refinance Program.

Here are a few things that we know today that can help you plan ahead for the relaunch date:

1) Commercial Real Estate and Equipment can be pledged as collateral for a new SBA 504 Debt Refinance Loans;
2) Conventional Loans, Private Lender Notes and Hard Money Loans can be refinanced;
3) Eligible SBA 504 Debt Refinance Loans are to be structured as follows:
     a) Third-Party Lender - Not Less than 50% of the Total Project Cost;
     b) SBA 504 Loan - Not more than 40% of the Total Project Cost;
     c) Borrower shall contribute not less than 10% of the Total Project Cost (Cash and Collateral Equity)
​4) SBA 504 Debt Refinance Loans may not exceed the outstanding principal balance of the debt being refinanced.

Even though official rules have not been released by the SBA it is never too soon to get your package organized and ready for submission.  Contact us today for more information.

FLASH UPDATE:  Bolt Law Group is now also Licensed in Texas.....
Off the Shelf Programs:
The SBA 504 program is something we believe in strongly and therefore have refined our programs to support our CDC partners and strengthen relationships.  The Services provided below are for our California clients, where we are currently licensed.
Below are two of our most common service profiles and the pricing you can expect. However, we have found that this is only a starting point and after getting to know each usually a slightly customized solution emerges to precisely fit your needs.
Opinion Letter Only ($1,000.00)
When you are ready for an Opinion Letter to be prepared, simply upload the entire closing file and send us an email. We organize the online file, prepare a proofreading spreadsheet and review all documents. Thereafter we prepare the Opinion Letter, which is made available to you online.
Those that utilize this option sometimes ask us to prepare and file UCC statements, which we do for an additional flat rate of $250.00.
Expanded Service plus Opinion Letter - Most Popular ($1,750.00)
Pre-Document Services includes all of the following:

• Prepare Signature Blocks
• Stand by Credit Agreements
• Loan Agreement
• Mortgage Documents
• Memorandum of Lease
• Subordination Agreements
• Security Agreements
• Assignments of Lease
• Request for Notice
• Escrow Instructions
• Review all documents prepared by the CDC
• Coordinate Life Insurance Assignment
• Request Insurance (Real Property, Personal Property General Liability, and Worker Compensation)

During Signing Process:

• Submit documents to Escrow and coordinate loan signing
• Answer all questions coming from the Borrower
• Available via cell phone to respond to requests from escrow and the Borrower
• Where Construction is involved we are responsible for collecting (Bank Disbursement Record, Lien Releases, Certificates of Occupancy, and Fully executed Permit Cards)

Post Closing Process:

• Request Third Party Lender Agreement and Interim Lender Certification
• Review all documents coming back from Escrow including Title Policy
• Collect all documents needed to complete the Submission Package
• Submit the package to SBA and follow up thru SBA funding approval
• Prepare a Borrower’s Equity Certification for your closing file

Final Review:
Complete a final review of all documents to ensure that files are ready for any audit request from SBA.
When an audit request comes in from SBA we are ready to help and no additional charge.