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Key SBA 504 SOP Updates: What You Need to Know - BLP - Business Lending Partners

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Key SBA 504 SOP Updates: What You Need to Know

Starting June 1, 2025, the Small Business Administration (SBA) is implementing key changes to the Standard Operating Procedure (SOP) for the 504 Loan Program, bringing greater clarity and efficiency for bank partners. These updates are designed to streamline the lending process, reduce guesswork, and make SBA 504 loans more accessible for small businesses.

Here are the key updates:

1. Veteran Loans Prioritized
The SBA will now prioritize loan processing for veteran borrowers, strengthening the support system for veterans seeking financing. This update complements BLP’s existing VetLoan Advantage Program, which offers additional benefits tailored to veteran-owned businesses.

2. Clearer Refinancing Guidelines

Recent changes to SBA 504 debt refinancing have been officially integrated into the SOP. This update clarifies the guidance surrounding refinancing, making it easier for banks to process refinanced loans and ensuring a more straightforward and consistent approach to debt refinancing.

3. Faster Environmental Approvals

In a move to speed up the lending process, the SBA has delegated certain environmental reviews to BLP. This means that BLP will handle more of the environmental approval work, allowing for faster turnaround times and more efficient processing of SBA 504 loans. This change not only reduces delays but also helps provide a smoother and quicker experience for both lenders and borrowers.

4. Franchise Directory Returns

The SBA Franchise Directory is back! This update makes it easier for banks to determine eligibility for SBA financing when a borrower operates under a franchise model. By providing clear guidance on franchise eligibility, this change helps lenders more effectively navigate SBA 504 lending for franchise-based businesses.

These enhancements reduce uncertainty, accelerate loan timelines, and create a smoother experience for banks and small business clients alike—making SBA 504 lending more accessible and efficient than ever.

Interested in SBA 504 financing or have questions about the latest SOP updates? Connect with the BLP team to learn how we can support your lending strategy—contact Wesley Walsh (Southern Wisconsin) or Brittany Helf (Northern Wisconsin) today!

CONTACT US FOR YOUR BUSINESS LENDING NEEDS

Wesley Walsh

Vice President & Loan Officer

Wesley Walsh is a commercial lender passionate about helping small businesses. A Magna Cum Laude graduate of UW-Eau Claire, he’s interned at Associated Bank and worked at Tri City National Bank.

Racine Office262.898.7436 Wesley@blp504.org