Understand the 504 structure and capital stack

Learn how the 50/40/10 structure works and how the bank, CDC, and borrower each play a role in financing the transaction.

Learn when and how to use the 504 program

Understand eligibility, equity requirements, and qualified uses so you can identify the right opportunities for owner-occupied businesses.

Navigate the process from application to closing

Follow how 504 deals move through underwriting, SBA approval, and the two-stage closing process so you can manage transactions more effectively.

A practical introduction to how SBA 504 loans are structured, qualified, and executed for owner-occupied commercial financing.

The SBA 504 program is one of the most effective financing tools for owner-occupied commercial real estate, yet many mortgage professionals are not fully familiar with how it works. Understanding the structure, eligibility requirements, and process is essential to identifying opportunities and properly advising clients. This course provides a practical introduction to SBA 504 lending, focusing on how deals are structured and executed in the real world. You’ll learn how the partnership between the bank and CDC works, how equity and eligibility are determined, and how transactions move from initial application through closing. The goal is to give you a clear framework so you can confidently guide clients and expand your lending capabilities.

Academy For Commercial Lending 

I’m Michael Boggiano, and I’ve spent more than 25 years originating and structuring commercial real estate and business-purpose loans across multiple market cycles. My experience comes from working directly on transactions and understanding how lenders evaluate risk, structure deals, and move them from initial review through closing. Early in my career, one of the biggest challenges was the lack of practical guidance on how these deals actually work. That led me to focus on simplifying complex concepts into clear, usable insight. Through the Academy for Commercial Lending, my goal is to help professionals build confidence, understand the process, and approach commercial and SBA lending with a stronger foundation.

Curriculum

7 Chapters · 15 Lessons

  1. 1

    SBA 504 Loan Program

    1. (Included in full purchase)

      Chapter 1: Introduction to SBA and the 504 Program

    2. (Included in full purchase)

      Chapter 1 - Quiz

    3. (Included in full purchase)

      SBA 504 Loan Program - Conclusion

  2. 2

    Chapter 2: 504 Loan Structure and Partnership Model

    1. (Included in full purchase)

      Lesson 1: How the Bank, CDC, and Borrower Structure the Deal

    2. (Included in full purchase)

      Chapter 2 - Quiz

  3. 3

    Chapter 3: Terms, Rates, and Eligibility Requirements

    1. (Included in full purchase)

      Lesson 1: How SBA 504 Loans Are Structured and Qualified

    2. (Included in full purchase)

      Chapter 3- Quiz

  4. 4

    Chapter 4: Eligible Uses and Environmental Requirements

    1. (Included in full purchase)

      Lesson 1: What 504 Loans Can Fund and Key Compliance Considerations

    2. (Included in full purchase)

      Chapter 4 - Quiz

  5. 5

    Chapter 5: Underwriting, Process, and Deal Execution

    1. (Included in full purchase)

      Lesson 1: How SBA 504 Transactions Move from Application to Closing

    2. (Included in full purchase)

      Chapter 5 - Quiz

  6. 6

    Hand Outs

    1. (Included in full purchase)

      Handout - Using SBA 7(a) and SBA 504 Together

    2. (Included in full purchase)

      Hand out - Choosing Between SBA 7(a) and SBA 504

    3. (Included in full purchase)

      Hand out - SBA 7(a) vs SBA 504

  7. 7

    Final Exam

    1. (Included in full purchase)

      Final Exam

What Mortgage Professionals Are Saying

See how professionals are using the SBA 504 program to structure owner-occupied deals more effectively and guide clients with greater confidence.

”
“This course made the 504 structure very clear. I now understand how to position the bank and CDC pieces and explain the benefits to clients.”
Hunter

Mortgage Broker - Albany, NY

”
“A very practical breakdown of how 504 deals actually work. It helped me identify when to use the program and how to structure transactions properly.”
Marie

Loan Officer - Portland, OR

”
“This gave me a much better understanding of the process from application through closing. I feel more confident advising owner-users on financing options.”
Andrew

Mortgage Broker - Tampa, FL

Expand your expertise in owner-occupied commercial financing

This course gives you a clear and practical understanding of how SBA 504 loans are structured and executed. Start the course and begin building confidence in guiding clients through fixed-asset financing.

Enroll for free