The US Small Business Administration (SBA) is revising certain terms of its loan program under Title V of the Small Business Investment Act (SBIA) (504 loan program), including making permanent the authority for creditworthiness determinations and certain other matters (ALP delegated authority) that the SBA granted to certain certified development companies (CDCs) for certain loans under the 504 loan program. The SBA announced ALP delegated authority on October 6, 2023 under a pilot program which continued authority provided by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Title III of the Consolidated Appropriations Act, 2021) and implemented by the SBA in June 2022 under an interim final rule that expired September 30, 2023. The SBA proposed making ALP delegated authority permanent in an October 24, 2024 notice of proposed rulemaking.
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SBA Makes ALP Express 504 Loan Delegated Authority Permanent and Other 504 Loan Program Revisions
