Małe firmy · 04/12/2019

Streamlining and Modernizing Certified Development Company Program (504 Loan Program) Corporate Governance Requirements

The final rule updates the corporate governance requirements for Certified Development Companies (CDCs) in the 504 Loan Program to improve efficiency and reduce costs, while minimizing increased risk. The changes include streamlining corporate governance requirements and updating professional services contracts, audit and review procedures, and loan loss reserve fund balances.