This is a Partner Course. Lawline has teamed up with this faculty member to produce this premium CLE content. As such, this course is not included in subscription access and must be purchased separately.

In partnership with Janice E. Garlitz*, this program:

Is accredited for Continuing Legal Education (CLE) credit in the states listed on this page
Is approved by the U.S. Small Business Administration (SBA) for Designated Attorneys
Contains course materials that are SBA-approved

The U.S. Small Business Administration (SBA) requires Designated Attorneys approved by SBA to close SBA 504 Loans to attend an SBA-approved Closing Update Course every 2 years. This course will fulfill that requirement for 2025. The program also is very useful for CDC (SBA-certified development company) Closing Staff and Non-Designated Attorneys who want the latest information on 504 Loan closings. The course covers all changes affecting 504 Loan closings since 2023 as well as advanced topics and tips in handling such closings.

Topics for 2025 include:

SOP 50 10 7.1
ALP Express Program
Top Errors Found in Complete File Reviews
Changes in eligible and ineligible Borrowers and Alternative Size Standard
Maximum 504 Loan Amount
Terms and Conditions and Disbursement Deadlines
Submitting signed Terms and Conditions/Authorization to SLPC
327 actions through 504 E-Tran
Guarantees
EPC and OC Requirements
Subordination and Nondisturbance
Confirming Ownership
Ongoing SBA Guarantee Fee
Evidence of Use of Proceeds
Construction Escrow
Intercreditor Agreements
Third Party Lender Participation Fee
Changes to Debt Refinancing with Expansion and without Expansion
C-PACE Financing
Impact of Recorded Covenants and Restrictions
Title Insurance Exceptions and Use Restrictions
Title Policies including ALTA 2021 Loan Policy and Arbitration
Indemnification
Judgments or Lawsuits
Condominium Liens
Leasing to Illegal Business
Post-Funding Occupancy
Leased Premises and Landlord's Subordination
Life Insurance Updates
Flood Insurance Changes
Hazard Insurance Updates
Other Insurances
Changes to Environmental Requirements
IRS Tax Transcript Updates
Appraisal Updates
Seismic Certification
Construction and Zoning Requirements
No Adverse Change Determinations
Change of Ownership Prior to Closing
Compensation Agreements (SBA Form 159)
SBA Franchise Policy and CDC Counsel Reviewing Franchise Documents
Electronic Signatures
Current SBA Forms
Designated Attorneys
Debenture Funding and Closing Package Submission Schedule
SLPC Request to Grant Access
Closing Packages
COVID-19 Changes
EIDL Subordinations
Closing 504 Loan Assumptions

Learning Objectives:

The purpose of the 504 Loan Closing Update Course is to update attorneys and CDC closing staff on recent changes to the 504 Loan Program and statutory, regulatory, and legal developments that affect loan closings

Registrants: Please note that faculty, Jan Garlitz, will send any materials not attached to this course when notified of registrations.

Please note that there will be a 10-minute break from 1:00 p.m. to 1:10 p.m. EDT.

This course and all 504 and 7(a) Loan Closing courses were produced with a partner and are not included in any of our unlimited CLE subscriptions.

504 Loan Closing Course: 2025 Update

Overview

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