SBA 504 Loan definition

SBA 504 Loan means any first lien mortgage loan which is originated in accordance with the SBA Rules and Regulations and pursuant to Title V of the Small Business Investment Act of 1958, as amended, codified at 15 U.S.C. 645 et. seq.
Sample 1Sample 2Sample 3
SBA 504 Loan. A Business Loan originated by the Seller in conjunction with the SBA 504 Loan Program.
Sample 1Sample 2
SBA 504 Loan means the loan or debenture guaranty described in that certain Authorization for Debenture Guarantee issued by the Mid-Atlantic Business Finance Company and approved by the U.S. Small Business Administration on March 10, 2005, and accepted by the Borrower on April 21, 2005, as subsequently amended with the approval of the Bank (the "SBA Authorization"), in the gross principal amount of Eight Hundred Eighty-Six Thousand Dollars ($886,000). The SBA 504 Loan is administered under the U.S. Small Business Administration as provided in 13 CFR Section 120.800 et seq. (Subpart H), and all official rules promulgated in connection therewith (the "SBA Regulations").
Sample 1Sample 2

Examples of SBA 504 Loan in a sentence

  • All documents evidencing the Lender Loan and Lender’s Security Instrument must comply with SBA 504 Loan Program requirements, including but not limited to those identified in the following subparagraphs, and, in the event one or more of the provisions in such documents do not comply with these requirements, Lender waives any right to enforce such provisions while the SBA Loan has any unpaid balance.

  • The Third Party Lender and CDC will provide separate loans to the Borrower and Operating Company, if any (collectively “Borrower”), according to the terms in the Authorization for Debenture Guarantee (SBA 504 Loan), as amended (“Authorization”).

  • Applicant acknowledges BSF and SBA will require an appraisal of the real property securing the SBA 504 Loan.

  • To help the government fight the funding of terrorism and money laundering activities, Federal law requires BSF to obtain, verify, and record information that identifies each person who applies for a SBA 504 Loan.

  • Eastern and the Executive have executed this Agreement to be effective as of the date set forth above.

  • What this means for you is when you apply for an SBA 504 Loan, we will ask for information to identify you, such as a copy of your driver’s license or other identification documents.

  • Small Business Administration Loan Funds Available to Purchase Commercial Real Estate About SBA What We Do SBA Team SBA Locations SBA Performance Oversight & Advocacy SBA Initiatives Forms SBA Newsroom by: Stephen Umberger, District Director Small business owners thinking of purchasing or renovating commercial real estate or purchasing equipment to grow or expand their businesses should consider the U.S. Small Business Administration’s (SBA) 504 Loan Program.

  • Authorization for Debenture Guarantee (SBA 504 Loan) expiration date:11.

  • Applicant further acknowledges that this information is required to complete an SBA 504 Loan Application.

  • SBA 504 Loan Application Borrower's Contact Person: Phone #: E-Mail Address: Provide information about the Operating Company in Section 1.


More Definitions of SBA 504 Loan

SBA 504 Loan means a first or second lien loan originated pursuant to and in accordance with the SBAs 504 Loan Program. “SBA 504 Loan Program” shall mean the Development Company Loan Program set forth in Subpart H of Title 13 Code of Federal Regulations Part 120. “SBA SOP” shall mean the SBA Standard Operating Procedure 50 10 6, as may be amended, restated and/or updated from time to time. “SBL” shall mean Small Business Lending, LLC. “SEC” shall have the meaning specified in Section 23(a). “Second Lien Mortgage Loan” shall mean any Mortgage Loan secured by a second lien on the Mortgaged Property. “Securitization Takeout” shall mean a public or private transfer, sale or financing of one or more of the Purchased Loans by which Seller or one or more of its Affiliates directly or indirectly securitizes a pool of one or more of the Purchased Loans, including, without limitation, any such transaction involving the sale of Purchased Loans to a special purpose entity organized for the purpose of issuing asset-backed or mortgaged-backed or mortgage pass- through securities of any kind. “Seller” shall have the meaning set forth in the introductory statement. “Seller Parties” shall mean each of the Seller, the Servicer (but only if the Servicer is an Affiliate of the Seller), the Back-up Guarantor and the Guarantor. “Servicer” shall mean SBL and any other entity responsible for servicing or subservicing, as the case may be, of any of the Mortgage Loans subject to Transactions hereunder that has been approved by Buyer in writing, or, in each case, any successor or permitted assigns thereof; provided, the Buyer may (in its sole discretion) revoke a Servicer’s authorization to service or subservice a Mortgage Loan at any time following the occurrence and continuance of an Event of Default. “Servicer Acknowledgment” shall mean each acknowledgment (if any) executed in connection with the related Servicing Agreement by a Servicer in favor of the Buyer in form and substance reasonably acceptable to the Buyer. “Servicer Termination Event” shall mean any of the following: (i) Failure of any Servicer to perform its duties under the Servicing Agreement or Servicer Acknowledgment in any material respect; (ii) The suspension or termination of the Servicer as an approved servicer under any government program;
Sample 1

Related to SBA 504 Loan

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • PPP Loan means the loan in principal amount of $673,184 issued to the Company by the PPP Lender pursuant to the promissory note dated April 20, 2020.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Interest Reserve Loan Each Actual/360 Mortgage Loan.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • DIP Loan Any Loan (i) with respect to which the related Obligor is a debtor-in-possession as defined under the Bankruptcy Code, (ii) which has the priority allowed pursuant to Section 364 of the Bankruptcy Code and (iii) the terms of which have been approved by a court of competent jurisdiction (the enforceability of which is not subject to any pending contested matter or proceeding).

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • Co-op Loan A Mortgage Loan secured by the pledge of stock allocated to a dwelling unit in a residential cooperative housing corporation and a collateral assignment of the related Co-op Lease.

  • Canadian Loan means a Loan made to a Canadian Borrower denominated in Canadian Dollars.

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that such loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

  • Sub-loan means a loan made or proposed to be made by the Borrower out of the proceeds of the Loan to a Private Enterprise for an Investment Project;

  • CD Loan means a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to this Borrower Loan Agreement, in the maximum principal amount of the Borrower Loan Amount, as evidenced by the Borrower Note.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Group II Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group II Loans.

  • Simple Interest Loan means any Loan under which the portion of a payment allocable to interest and the portion allocable to principal is determined by allocating a fixed level payment between principal and interest, such that such payment is allocated first to the accrued and unpaid interest at the Annual Percentage Rate for such Loan on the unpaid principal balance and the remainder of such payment is allocable to principal.

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • Wet Loan means a Purchased Loan originated and owned by the Seller immediately prior to being purchased by the Buyers:

  • Group I Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group I Loans.

  • Collateral Loan means a Senior Secured Loan, a Senior Secured Bond, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria: