Alloy Continues SBA 504 Loan Processing While Awaiting SBA Reopening

While the U.S. Small Business Administration remains temporarily shutdown, our commercial lending team is still processing SBA 504 loan requests in anticipation of the agency reopening in the not too distant future. Before a request for financing can be approved by the SBA, our team is tasked in working with a potential borrower and the participating private lender to structure the project financing and perform the underwriting and credit analysis. Once that work is done, the loan request is submitted to one of three Loan Committees for initial approval. We have a separate loan committee for projects in either Kentucky, the southern portion of Ohio centered in Cincinnati, and the northern portion of Ohio centered in Canton.  In addition, an application to the SBA also requires both a real estate appraisal and environmental investigation report which add time to the process. Typically, the time from initial application to SBA submission can take a minimum of 45 days, sometimes longer. So even though the SBA is currently temporarily closed, don’t let that stop you from pursuing an SBA 504 loan for commercial property purchase with our commercial lending team. By the time the application is ready to send to the SBA, we hope the SBA will once again be accepting loan package submissions. For more information on the SBA 504 Loan Program, please contact us at

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