Good afternoon,
We have a SBA 504 loan that originated in 2023 with 12 months interest only payments. We just granted a 3 month extension of the note to allow ample time for the SBA debenture sale to take place. Can we get CDL credit this year for the extension?

Loan extensions are reportable just like renewals are, subject to the one per year rule.

I'm not sure extensions like the OP is referring to are considered by CRA. The Q&A only states that renewals require an extension of the term. If you read that as any extension of the term is a renewal, then I agree with Compl101TX.


§ ll.42(a)—5: Should institutions collect and report data about small business and small farm loans that are refinanced or renewed?

A5. An institution should collect information about small business and small farm loans that it refinances or renews as loan originations. (A
refinancing generally occurs when the existing loan obligation or note is satisfied and a new note is written, while a renewal refers to an extension of the term of a loan. However, for purposes of small business and small farm CRA data collection and reporting, it is not necessary to distinguish between the two.) When reporting small business and small farm data, however, an institution may only report one
origination (including a renewal or refinancing treated as an origination) per loan per year, unless an increase in the loan amount is granted. However, a demand loan that is merely reviewed annually is not reported as a renewal because the term of the loan has not been extended.