Appraisal Threshold Increased for SBA 504 Loan Program
The appraisal threshold for Small Business Administration (SBA) 504 loans secured by commercial real estate has been increased to match the federal regulator appraisal threshold amount for commercial real estate transactions (recently changed to $500,000).
This means that the existing statutory appraisal threshold for 504 loans secured by commercial real estate has now been raised from $250,000 to $500,000 to match the federal regulators’ current appraisal requirement.
The change is part of the Small Business ACE Act and was signed into Public Law No: 115-371.
The SBA will be providing an information notice with guidance on implementing this beneficial change for the 504 Loan Program. More information to come as it becomes available.
For more information about SBA 504 loans in Alabama, Florida or South Georgia, contact a Florida First Capital Loan Officer or email us at info@FloridaFirst.com. Phone: 850.681.3601 or toll-free at 800.504.LOAN.