Congratulations on your SBA 503 or 504 loan! Throughout the life of your loan, please contact us at
Delaware Community Development Corporation if you have any questions or concerns. Annually, we will
ask for updated copies of your tax returns, insurance information and number of jobs. We look forward to
servicing your loan!
Frequently Asked Questions
Who is Colson Services Corporation?
Colson Services Corporation manages your monthly loan payments by debiting the bank account you
submitted at closing. Colson then pays the bondholders who purchased your loan in semi-annual payments.
How do I obtain my loan balance? TOP
Check the amortization schedule sent to you after your 504 loan closing. If you need an additional
copy, please contact us.
How do I find out the amount of interest paid on my loan? TOP
Annually, IRS Form 1098 is provided to the Borrower stating the interest paid on the loan for the
most recent calendar year. This statement will be mailed to the address we have on file.
Alternatively, any Borrower can also check the amortization schedule provided after the 504
loan closing. Contact us if you have additional questions.
How do I change my address or other information? TOP
Please contact us via email, telephone or fax.
How do I pre-pay or pay-off my loan? TOP
If you intend to pre-pay your 504 loan, please contact us immediately. We need written notice of your
intent 45 days prior to your pre-payment. Additionally, 504 loans can only be pre-paid on the third
Thursday of each month; 503 loans can only be pre-paid 2nd and 4th Thursdays of each month except
November and December (1st and 3rd Thursdays).
A $1,000 good faith deposit is required. Prepayment premiums will apply, please check the information
sent to you after your loan closed for your specific premium. Other stipulations apply.
PLEASE CONTACT US IMMEDIATELY IF YOU ARE CONSIDERING PRE-PAYING YOUR LOAN.
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