Common Contracts
1 similar null contracts
FEE DISCLOSURE FORM AND COMPENSATION AGREEMENTApril 21st, 2015
A CDC is limited by regulation to charging an Applicant up to 1.5 percent of the net debenture to cover the CDC’s costs associated with all activities required to process the 504 loan request including screening and packaging the loan. Two thirds of this fee is considered earned and may be collected by the CDC when the 504 loan authorization for the debenture is issued by SBA. At the time of application, the CDC may require a deposit of the fee from the Applicant. The deposit may be up to $2,500 or 1 percent of the net debenture amount, whichever is less. The deposit must be refunded if the application is denied. If the Applicant withdraws its application, the CDC may deduct from the deposit reasonable costs incurred in packaging and processing the application. The 1.5 percent fee (and any deposit towards the fee) does not have to be reported as part of this form.
