What fees are associated with the CTCIC 504 Loan?
There are fees associated with the CTCIC 504 Loan that are required by SBA for every 504 loan that is funded; these fees are approximately three percent of the CTCIC 504 Loan and are financed as a part of the Loan. In addition, there are servicing fees associated with the CTCIC 504 Loan that are reflected in the effective interest rate. Finally, there are out-of-pocket expenses related to the CTCIC 504 Loan closing, which is autonomous from the bank closing, including but not limited to recording costs, filing fees, title insurance premiums, hazard insurance premiums, and flood insurance premiums (if applicable).
