Lake Agassiz CDC is now utilizing the Small Business Administration’s “e504” electronic loan application process. Instead of sending in a physical file to the Sacramento Loan Processing Center (SLPC), all CDC’s are able to submit paperless loan requests from their computers in a safe, secure manner.
The primary benefit of utilizing the e504 method is the efficiency. Applications are received and logged in by SLPC in a matter of hours instead of days. Processing delays are shortened by submitting additional information electronically instead of by mail. It also reduces the amount of paper used by eliminating photocopying of loan files.
For more information on the e504 process or the 504 loan program, contact Randy Kingsley at 701-235-1197 or by email at randy@lakeagassiz.com.