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SBA Loan Attorney


WSWGS assists small businesses to navigate the rules and requirements for the SBA lending programs. The SBA (U.S. Small Business Administration) Lender and Development Company Loan Programs contain eligibility requirements for lenders that govern the CDC/504 and 7(a) loan programs called the SOP 50 10 5(K).

The SOP is divided into two parts:

Part 1:  contains SBA Lender participation and portfolio requirements. Here you will find criteria for becoming an SBA Lender; types of delegated authority; a brief overview of how SBA conducts oversight of SBA Lenders; processes for loan reporting, secondary market transactions, loan transfers, and securitization.

Part 2:  is divided into three sections. Section A: Core Requirements for all 7(a) and 504 loans Section B: 7(a) Loan Program requirements Section C: 504 Loan Program requirements.

WSWGS attorney, Edwin Byck, is one of fewer than 30 attorneys in the state of Georgia that is certified to service 504 loans and the only one in the Low Country area. Mr. Byck has been certified since 2005 and renews his certification every 2 years. Edwin Byck represents the lender and the bank lender to assist in loan accordance with SBA procedures.

SBA Loan Services

  • SOP 50 10 requirements
  • 504 Loan Program
  • 7(a) Loan Program
  • Review of SOF for loan programs

7(a) Loan Program

Up to $5 million

  •  Business & real estate acquisition

  •  New construction and renovations

  •  Initial working capital, inventory soft cost and closing costs

  •  Buy new equipment

  •  Partner buy-out

  •  Refinance existing business debt

  •  Real estate: up to 25 years

  •  Non-real estate debt: up to 10 years

  •  Term can be blended if the debt includes both real estate and non-real estate debt

Variable and fixed rate options available

  •  The SBA Guarantee fee ranges from 2% to 3.5% of the guaranteed portion of the loan

  •  Other fees include packaging fees, third party reports, lien filings, title charges, etc. (closing fees can be incorporated into the loan)

CDC/504 Loan Program

Up to $5 million on the Bank financed portion.
However, if a building is working towards “Green Certification,” loans can be larger.

  •  Acquisition of an existing building

  •  Building expansion or renovations

  •  Equipment

  •  Fixed assets from business acquisition

  •  Land and new construction

  • Real estate: 25 years

  •  Equipment: up to 20 years
    (assuming capital equipment is new or supported by an appraiser confirming the useful life of the assets)

  •  Mixed-use loans can have blended terms, but typically the longest term is used based on the largest use of proceeds as a percentage of the loan.

Variable and fixed rate options available

  • 2%-4% of total financing

  •  Other fees include packaging fees, third party reports, lien filings, title charges, etc. (closing fees can be incorporated into the loan)

SBA Loan Attorney

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