The SBA announced an update to Form 1504 (Development Company Debenture). Check out the updated form here.

The first sentence was updated to read: "For value received, the Undersigned Company promises to pay to The Bank of New York, as Trustee under that certain Amended and Restated Trust Agreement, dated as of June 14, 2018..."

The SBA will accept the older version (04-18) until August 1, 2018. After that, please be aware you are to use the updated version (6-18). 
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Check out the SBA's latest Information Notice regarding the recent changes here. 

As the notice states these updates are effective immediately, be aware that you should start using these revised forms immediately, for your June Submissions. 

​Contact us if you'd like to discuss how these changes affect you.