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SBFC's donation promise and guarantee

As most of you know, the SBA has eliminated the 50 basis point bank participation fee. As you also know, SBFC had promised to pay this fee for you if we failed to pay down your loan within 60 days of the close of escrow or the funding of your final draw.

 

We are keeping our funding guarantee. Because of the SBA’s fee elimination, we will now pay 10 basis points of our loan to a charity of your choice as our penalty if we don’t meet our promise of funding within 60 days.
 
This matches the 10 basis points we already give to a charity of your choice for any loan referred by you when the SBA approval is issued.
 
For purchases with no construction, we will fund within 60 days of the close of escrow. For projects with construction or renovation, we will fund within 60 days of when you fully fund the interim loan(s). Our guarantee presumes that your bank and the borrower provide us with everything listed on our closing requirements list in a timely manner. As you know, we provide this list at close of escrow on purchases and, on construction loans, when your bank notifies us of the final draw on the interim loan. Our guarantee also presumes that the funding requirements of the Authorization are met.
 
Southwestern Business Financing Corporation is always committed to providing the best service to our valued banking partners, which includes having the shortest funding time of any certified development company in Arizona. Why wait up to 150 days with other CDCs when you can protect your clients and your bank by working with the best CDC in Arizona?