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504 Application Process


To intitate a 504 loan application, it is best to first call your local WBD office.  The loan officer will review the project and suggest a general funding structure.  The basic application materials are no different than what a bank typically requires:

  • 3 years of historical financial statements for the company
  • 3 years of federal tax returns for the company
  • Financial projections
  • Personal financial statements for the owners
  • Summary of the business history, market study, and management resumes
  • Project cost summary with supporting documentation

A copy of all of the above forms are included in our 504 application packet  and can be accessed here.

The loan officer will review the material, assess the eligibility and credit quality, and prepare an analysis for submission to WBD's loan committee.  Upon approval, the local office will prepare the application forms and once complete, the application will be sumitted to the SBA for review and loan authorization.