SBA 504 ALP Express Program Made Permanent

In response to the COVID-19 pandemic, the federal government doubled down on U.S. Small Business Administration (SBA) lending as a key economic recovery tool. Congress enacted several SBA 504 program enhancements that continue today, including the creation of the 504 ALP Express Loan.

In section 328 of Public Law 116-260, also known as the Economic Aid Act, Congress granted the SBA the authority to establish a 504 ALP Express Loan Program. Certified Development Companies (CDC) participating in the program may expedite the approval, authorization, and closing of certain loans less than $500,000. As the popularity of the 504 program continues to grow, the ALP Express is a great option for smaller projects to access capital faster. One of the main goals of the ALP Express is to support smaller commercial real estate loans, which ultimately helps the industry serve even more small businesses, while also modernizing the program.

Eligibility is limited to CDCs, like SomerCor, that have been awarded Accredited Lender Status by the SBA. The Express Program was a pilot, set to expire on September 30, 2025, but the SBA made the program permanent, effective January 17, 2025 (89 FR 102697). 

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