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Is an environmental report required when the purchase of real property is being financed with an SBA 504 loan?

April 26, 2017Environmental financed loan Property purchase report SBA

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Is an environmental report required when the purchase of real property is being financed with an SBA 504 loan?

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Yes, typically SBA loans will require a transaction screen or Phase 1 environmental report. California Statewide works closely with the lender to insure that the appropriate environmental reports are conducted for the project property.