The following are the out-of-pocket fees charged to borrowers. All other fees associated with the SBA 504 loan are added to the loan amount and are paid over the life of the loan and are included in the quoted effective interest rate.

• An up-front deposit of $2,500 or 1% of the net SBA 504 loan amount, whichever is less. This fee is fully-refundable unless the borrower backs out of the loan process prior to funding.
• A Third-Party Lender Fee of 0.50% of the bank loan amount in the project (SEDA-COG LDC will cover half of this fee on behalf of the borrower).
• Other closing costs – At SBA 504 closing, the borrower will have other out-of-pocket costs such as, but not limited to, title insurance, property taxes, recording fees, filing fees, settlement agent fees, governmental documentation (good standing certificates, lien searches, etc.), SBA certifications (certificates of occupancy, etc.), and other fees that might be charged by the borrower’s attorney such as postage, copying costs, document review, etc.