Current Borrowers

IMPORTANT UPDATE:

We are in the process of reaching out to specific B:Side Capital borrowers who do not have proof of insurance on file. If you have received a phone call or email requesting this information, please email your documents to insurance@bside.org as soon as possible.

General | SBA 504 | Community Advantage | Direct borrowers

General

We do not currently have a way for you to download loan documents. Please reach out to our servicing team at any time for these or any general loan questions: email servicing@bside.org or call 303.657.0010.

To find out what your current loan balance is, please email servicing@bside.org. Please include your business name and loan number in the email.

If you wish to pay off your loan early and would like to request a payoff, please email our Servicing team at payoffs@bside.org. Please include your business name, loan number, and desired payoff date in the email.

If you are a PPP borrower, please email hello@bside.org with questions.

SBA 504

• Bank - the lender for your first mortgage

• U.S. Small Business Administration (SBA) - the lender for your second mortgage

• B:Side Capital - the Certified Development Company (CDC) who services your loan on behalf of the SBA

• Computershare - the Central Servicing Agent (CSA) who collects your monthly loan payment via an automatic checking account deduction known as an “ACH debit”

• Investors - those who purchased the bond on Wall Street that funded your loan

Wells Fargo Corporate Trust Services, which collected monthly payments on behalf of the SBA, was acquired by Computershare on November 1, 2021. There will be no interruption to your SBA loan as a result of the sale. However, your payment documentation may now list Computershare instead of WFSSBA504LN.

Loan payments will be automatically deducted from your bank account on the first business day of the month. This process is known as an “ACH debit” and will post on your bank statement. The date of your payment cannot be changed.

Need to change the account where your 504 loan is pulled from?

Fill out and submit a new ACH Debit Authorization form. Please contact us for more details: servicing@bside.org

An Amortization Schedule follows your loan payments and outstanding balance for the life of your loan. It also shows the principal, interest, and fees paid each month.

There are three fees included in your monthly loan payment:

• SBA - the fee paid to cover any losses to the SBA 504 loan program

• CDC - the fee paid to B:Side Capital for servicing your loan

• CSA - the fee paid to Wells Fargo for handling the payment processing and loan accounting

Interest and fees are usually deductible as an operating expense for the entity that owns real estate and/or equipment. Your Amortization Schedule shows how much you pay each month in interest and fees. B:Side Capital will mail Annual Interest Statements by January 31st each year for tax purposes. Please verify all tax items with your accountant.

• Annual tax returns for your operating company (OC) and real estate holding company (EPC)

• Any insurance certificates (hazard/property, business personal property, flood, condo association, etc.)

• Any updates to your contact information

• Access to the property for site visits as needed

• Job creation numbers two years after your loan has funded 

• Other information as required

A prepayment penalty exists for the first 10 years of the loan. The prepayment penalty for the first year of the loan is the interest rate on your loan. The prepayment penalty then declines by one-tenth of that rate each year until the end of year 10, when it disappears.

Community Advantage

If you have questions, please email servicing@bside.org or call 303.657.0010.

Direct Borrowers

If you have questions, please email servicing@bside.org or call 303.657.0010.

• Annual tax returns for the borrowing company

• Any insurance certificates (hazard/property, business personal property, flood, etc.)

• Any updates to your contact information

• Access to the property for site visits as needed (no more than annually)

• Job creation and retention numbers as needed (no more than semi-annually)

• Other information as required