45 Days Loan Processing Timeline

SBA lending can be a slow and cumbersome process.  In eastern Pennsylvania, there are 104 banks and 8 Certified Development Companies "CDC's" who have used the SBA 7a or 504 program in the SBA fiscal year 2010-2011.  There are only 27 banks who have made more than 10 SBA 7a loans and only 4 CDC's who have made more than 10 SBA 504 loans.  SBA lending is constantly changing.  The SBA 50-10 SOP (Standard Operating Procedures) is modified now every six months.  It is important to know these changes as they occur to insure the process runs smoothly.  If you work with a lender that only makes a few loans per year, determining eligibility, underwriting to SBA guidelines and submission does become a slow and cumbersome process.

We at Seedcopa understand the banker, the realtor, the accountant and the borrower all play an important part of the process and we strive to make sure communication is paramount.  We have developed a "45-day process from handshake to close" that insures the SBA and USDA loans are managed efficiently.

A schematic is as follows: