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  • Participation Lending SBA 504 Bridge Financing


    • Fixed Assets – up to 10 years.
    • Real Estate – up to 20 years.
    • Construction period – up to 18 months. Extensions will be considered on a case by case basis.


    • Nonrefundable $250 Application Fee (Credit Toward Origination Fee at Closing if Approved)
    • WHEDA Origination Fee is 1% of WHEDA participation amount. One half due upon loan approval and one half due at closing
    • Borrower to pay all loan closing fees


    WHEDA’s rate matches the Lender’s rate when sharing the same collateral position, or the rate will be risk based if WHEDA is assuming a subordinated collateral position. The Lender may retain a servicing fee up to 25 basis points from the rate paid to WHEDA.

    Loan Size

    Maximum WHEDA participation is $2 million.

    Participation Requirement

    A minimum of 50% of the total project lending to be made by a Participating Lender(s).


    Typically pro-rata shared lien but subordinate lien positions may be considered on a case by case basis and is subject to risk based pricing.

    Loan to Value

    Maximum 90% LTV on a project basis.

    Debt Coverage Ratio

    1.10, minimum

    Collateral Coverage

    110% of market value, 80% of liquidation value, minimum.

    Loan Guarantees

    Personal guarantees will be requested.