SBA form

503/504 Liquidation Wrap Up Report

Authorized CDCs must submit a Wrap-Up Report to the appropriate SBA Loan Center after completing 504 Loan liquidation activities.

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The submission of a Wrap-up Report indicates that no further collection action will be pursued, and that the loan is ready for charge-off.

For each 504 Loan classified in liquidation status, a Wrap-up Report must be prepared and submitted to the appropriate SBA Loan Center within 90 calendar days of completing all reasonable and cost-effective recovery efforts or upon receipt of a request from the SBA Loan Center, whichever occurs first.

If a CDC fails to submit a Wrap-up Report within the timeframe specified in SBA Loan Program Requirements, in order to comply with the Debt Collection Improvement Act of 1996, SBA will charge-off the loan balance, refer the loan to Treasury if appropriate, and with regard to PCLP 504 Loans, bill the PCLP CDC for its share of the loss.

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Related Programs: Related programs: CDC/504
Last updated April 5, 2023