This course is no longer available for credit on our site. Here are some similar courses you might be interested in:

On Demand Audio

504 Loan Closing Update (2018)

(69 reviews)

Produced on February 26, 2018

Taught by

Course Information

Time 180 minutes
Difficulty Advanced

Course Description

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 2018. 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 2015 as well as advanced topics and tips in handling such closings.

Topics for 2018 include: 

  • Changes in SOP 50-10(5) Development Company Loan Program Versions (I) and (J)

  • Historic Rehabilitation Tax Credits

  • Changes in Maximum 504 Loan Amount for Energy Projects

  • Amending Authorization for Debenture Guarantee

  • Changes in Guarantors

  • Changes in EPC/OC requirements including Change in Ownership, Rent and Occupancy

  • Confirming Ownership

  • Documenting Use of Proceeds

  • Changes in New Business and Special-Purpose Properties

  • Payoff of Interim Financing

  • Intercreditor Agreements

  • Debt Refinancing without Expansion

  • CDC Lien Instruments and Title Insurance

  • Lease Subordinations and Nondisturbance, Tenants and Residential Space 

  • Changes to Insurance Requirements 

  • Changes to SBA's Environmental Policy

  • Changes for Appraisals

  • Construction and Zoning Requirements

  • Compensation Agreements (SBA Form 159 (504))

  • Franchise Agreements and Management Agreements

  • Designated Attorney Requirements

Learning Objectives:

  1. 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 within two business days.

*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  

Credit Information

This course is pre-approved for CLE credit in the following states. If your state is not listed, contact support for more information on how to receive credit


Janice E. Garlitz

Janice E. Garlitz, PC

Janice E. Garlitz is a Designated Attorney with 19 years of experience creating, updating and teaching the 504 Loan Closing and 504 Loan Closing Update Courses. She serves as Closing Counsel for multiple CDCs and has 27 years of experience closing 504 and 7(a) SBA loans as well as 24 years of experience teaching adult legal education courses.


Laura C.

Great program Jan, as always.

James B.

Nice Job, Jan.

Patricia P.

Concise, well prepared, as always.

mark s.

Excellent presentation

Timothy B.

Great job.

Pat J.

Ms. Garlitz is extremely knowledgeable about SBA lending and, in particular 504 program lending.

David S.

Excellent update presentation!

Mike D.

Jan garlitz is the best presenter on this topic.

Raphael R.

Jan is the most experienced 504 attorney out there. Very informative course!

Lee R.

Excellent update course as always, Jan.

warren m.

jan is,always infomative

Steven T.

Great presentation by Jan, as always! Very well organized and thoughtfully presented. The examples given during the presentation were especially helpful in understanding portions of the materials.

John K.

Jan does an excellent job with the SBA update-she is the expert you will want to keep for these programs.

Geoffrey S.

Jan is incredibly knowledgeable on all of the intricacies of the SBA SOP

Load More