SDC services the entire state of Alabama, three counties in Mississippi, and the Florida Panhandle.

The process begins with either the borrower or financial institution engaging with SDC or vice versa. Once a potential loan request is communicated from our Business Development Officers (BDOs) to the underwriting team, it is placed in an Initial Review in which an underwriter will check for Eligibility for the 504 program and general cash flow (See Eligibilty page for more information). Once it passes through the initial review stage it will move into underwriting in which a perfected package and credit memo is prepared for Executive Loan Committee review. If the loan is approved by the ELC, the underwriter and BDO will work with the borrower and bank to collect all remaining items needed for SBA and get the specific forms/documents signed (See Documentation section of Eligibility page for more information). Once all the necessary documents are signed and/or collected and reviewed, the perfected package is then submitted to SBA for their approval. Once a loan is approved by SBA an Authorization is provided and the loan moves into the closing phase. The closers then work diligently with the borrower, bank, and SDC Counsel to prepare for and schedule the loan closing. During this time, the bank will close their permanent financing for their portion of the project costs and will also close an interim loan for the SDC/SBA portion of the project costs. There may also be additional items requested by our closers depending on the project, but once the loans close, the closers work to get the SBA loan to funding. Funding is when the SBA loan is sold to a bond issue and the bank's interim loan is paid off. Then the borrower will have two separate permanent financing loans: the first mortgage with the bank and the second mortgage with SDC. The bank loan will be serviced by the bank and the SDC/SBA loan will be serviced by us.