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What are the insurance requirements for the SBA 504 Loan?

April 26, 2017Insurance loan requirements SBA

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What are the insurance requirements for the SBA 504 Loan?

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A collateral assignment of life insurance is typically obtained on the small business owner(s). Title insurance and hazard insurance are both required on the project property. If the project property is located in a flood hazard area, flood insurance is also required.