SBA 504 Fees:
The fees associated with the SBA 504 Loan are set be Congress every October 1st. Current Congress mandated fees of 2.65% are rolled into your SBA 504 Loan.
Preferred Lending Partners does not charge any fees in additional to those set by Congress, however a commitment deposit of $3,500 is collected at the time of submission to SBA and applied to Third Party closing costs at the time of SBA loan closing/funding.
Third Party closing costs include a $2,500 SBA Attorney fee, which is typically rolled into your loan along with Congress mandated fees.
The Partner Lender is required by SBA to pay a participation fee of .50% on their First Mortgage Loan. Typically, the Partner Lender will pass this fee onto the borrower.
For additional information or to inquire about a fee estimate for your particular project please call.