Government Shutdown – FDDC Still Operates

The SBA continues to be shutdown as part of the larger, partial Federal government shutdown due to a lapse in appropriations. Only SBA employees deemed “essential” report for work on limited capacities. This would primarily include employees that work with the 504 funding process and liquidations. Debenture sales that fund SBA 504 loans continue to be processed in their normal fashion. No new SBA 504 applications are being reviewed by SBA at this time.

First District Development Company, which is a private, nonprofit organization, carries on its activities of working with clients and lenders in closing loans and preparing SBA 504 applications to submit when the government re-opens. We continue to service our SBA and revolving loan fund customers as we have in the past, with a few limitations. You are welcome to contact us with questions or concerns regarding existing loans or new loan applications.