Environmental Policies Working with the SBA

The U.S. Small Business Association, or SBA, has been in the news lately as a new small business COVID relief plan moves through our nation’s legislative channels. Depending on the nature of your business, you may be subject to several levels of environmental compliance before you can reap the benefits of SBA loans. Don’t let the need for environmental compliance scare you away from taking advantage of these excellent resources. Find out more about the environmental policies you’ll face working with the SBA – and how EWI can help.

Environmental Policies Working with the SBA

Step One: SBA Records Search

If you are working with an environmentally risky property type – a former gas station property, for example – you’ll likely be able to find it in the North American Industry Classification System (NAICS) code list of environmentally sensitive industries. If you’re applying for a Small Business Administration loan of more than $250,000, you must begin your environmental investigation with an SBA Records Search and Risk Assessment, or RSRA. This involves a site visit by the lender, as well as an environmental questionnaire that the lender submits to the SBA. If your property does not match one of the listed NAICS code environmentally sensitive properties, the SBA typically accepts an RSRA in lieu of a Phase I Environmental Site Assessment (ESA). If your property does fall under the NAICS list of environmentally sensitive properties, you’ll need to move forward with a Phase 1 ESA.

Step Two: SBA Environmental Site Assessments

As mentioned above, the SBA requires a Phase I ESA report for all environmentally sensitive properties. In some circumstances, the expert writing your Phase I report may suggest a Phase II Environmental Site Assessment be performed. This is an in-depth, subsurface investigation used to determine the level of contamination at a property. The SBA also requires adherence to any non-scope investigations recommended by an environmental professional in Phase I. That might include an asbestos survey or additional hazardous substance containment. A team of environmental professionals like those at Environmental Works can help walk you through both phases of environmental site assessments.

How EWI Can Help

Are you interested in finding out more about SBA loans for your business? The SBA can be especially helpful as the nation recovers from the COVID-19 pandemic. Don’t let environmental requirements scare you off. Our team can help you determine if your property is suited for SBA assistance. From there, we can walk you through every step of the environmental compliance process:

• Completion of environmental questionnaires
• Record Search Risk Assessment (RSRA)
• Additional lead, asbestos, and mold services as needed
• Evaluations of alternative funding sources for due diligence
• In-house experts to complete underground petroleum storage management and removal
• In-house experts to complete Phase II assessments for dry cleaners, gas stations, and other applicable properties
• Economic cost analysis for ongoing site mitigation

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Are you interested in applying for an SBA loan to support your property? Environmental compliance can be intimidating, but it doesn’t have to be. Our team of experts has in-depth knowledge and experience when it comes to environmental compliance for SBA loans. We can help you through every level of environmental compliance, even assisting you with the early stages of necessary environmental questionnaires for your loan. Finally, we can walk you through end-stage mitigation practices to ensure ongoing compliance as you build your business.

If you are curious about ongoing SBA business assistance, give Environmental Works a call. We have in-house experts ready to help. We will walk you through the specifics of your organization’s planning and compliance needs and explore the ways you can be prepared for policy changes of all kinds. When you’re ready, you can contact EWI online or call 877-827-9500 for more information.