Several years ago SBA established a streamlined loan application processing procedure known as Abridged Submission Method (ASM). Under this process, the CDC is required to collect and retain all documents, but submits only a few of them. This is the standard submission method for all Evergreen's applications and the application is reduced even further when our PLCP authority is used.
Now, the SBA has initiated "e504", a process to handle electronic 504 loan applications for ASM authorized Certified Development Companies. It will roll out e504 in phases beginning with projects in California, Colorado and Florida. By the end of this year, Evergreen Business Capital and all other ASM CDCs will be able to use e504.