Our Process is Made for You.
We make small business loans a personal matter. Contact our staff members and we’ll help you with the loan application process.
Our Step-By-Step Process
- Call/visit with MBFC staff to assess the project for SBA eligibility
- MBFC Business Development Officer assists in preparation of the loan application
- Receive MBFC loan approval within 2-3 days of complete application
- Receive SBA approval within approximately 4 days of submission
- SBA issues Authorization for Debenture Guarantee outlining the terms and conditions of the SBA 504 loan
- After SBA approval on appraisal and environmental, lender disburses funds for both lender and SBA loan
- SBA 504 loan closes upon project completion
- Debenture sells and SBA 504 loan funds approximately 45 days after MBFC closing