For Existing Borrowers

Thank you so much for choosing NWBDA for your financing needs. We appreciate your trust in us.

If you have a funded loan with us, we are still available to help you with your loan needs. It is our pleasure to assist you in any way we can.

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Payoff Guidelines

The Borrower may prepay the 504 loan by paying the entire principal balance, unpaid interest, any unpaid fees, and any prepayment premium established in the note. The pay off dates are only on the 3rd Thursday of each month. The pay off amount will include Monthly Payment & Interest up to and including the next semi-annual date as established in the loan note, pre-payment penalty (if applicable) and all fees. Therefore, if the goal is to pay-off the loan in order to avoid the next semi-annual date, Actual Pay-Off must occur the month prior to the semi-annual date.

The Borrower cannot set up a prepayment date with Wells Fargo on his or her own. The Borrower must notify NWBDA in writing with a letter of intent to pay off their loan and signed by all borrowers at least 10 calendar days prior to the 3rd Thursday of the month. Wells Fargo will release the “actual” payoff amount to NWBDA after the 6th business day of the month in which the pay off is scheduled. NWBDA will provide all information necessary for the Borrower to complete the transaction. Please remember to notify NWBDA before wiring the final pay-off.

The prepayment must be in the form of a wire transfer to Wells Fargo and the wire must be completed no later than 2:00 p.m. Pacific Time on the date the pay off is scheduled. Please refer to your Debenture Prepayment Schedule and Amortization Schedule provided in your funding package to determine your semi-annual dates or contact one of our Loan Servicing Specialists at

2020 Taxes – CARES Act 1112 Section Payments

SBA Notice

On January 28, 2020, SBA released an Information Notice to all SBA Lenders and Certified Development Companies regarding the CARES Act Section 1112 payments.

This Notice states that the Internal Revenue Service, effective December 27, 2020, has enacted Section 278(c) of the COVID-related Tax Relief Act of 2020 which provides that “any payment described in section 1112(c) of the CARES Act shall not be included in the gross income of the person on whose behalf such payment is made”.

Based on this update, a MISC-1099 will not be issued to our SBA 504 borrowers for any CARES Act payment received in 2020 as well as any paid in 2021.  This IRS update relates to your Federal Income Taxes only.

Your 2020 annual interest and loan fee statements were mailed out in late January.  In the event you have not received, email us at and we will get you a copy.  This annual statement breaks down all interest and fees paid by the borrower and the SBA separately.

Should you have any questions regarding this matter, please seek advice from your tax advisor or accountant.

Attention All Active Borrowers:

Please remember to provide NWBDA with current tax returns annually. Upload them to us below

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