LDC Loan Programs

A One Hundred Dollar ($100) non-refundable application fee is due at the time of application. Borrowers will be charged a maximum fee of 1% of the LDC loan amount due to the LDC at closing.

SBA 504 Loan Program

A non-refundable application fee of $500 is due to the St. Louis Local Development Co. (LDC) at the time an application is submitted.

Most fees associated with an SBA loan are added to the loan amount and amortized over the loan term. These include:

• An SBA funding fee of .25%
• CDC processing fee of 1.5%
• An underwriting fee of approximately .4%

The borrower is responsible for all legal fees and costs associated with closing 504 loans. Currently, the LDC does not charge fees for our legal services in preparing for closing. However, the borrower is expected to pay all costs associated with recording documents, tile insurance, and all other costs related to the closing of a 504 loan.