Servicing Department

As a Certified Development Company (CDC) Alacom Finance is the servicing agent and primary contact for questions regarding funded, paid-in-full and liquidated SBA 504 loans. We are here to work with the borrower and third party lender, answer questions, and communicate with SBA regarding necessary reporting and servicing actions. Alacom Finance Servicing Department should always be the first contact for funded, paid-in-full and liquidated loan information.

Alacom Finance Servicing Department

Verna DeArman

Servicing Officer
Alabama Community Development Corporation
d/b/a Alacom Finance
117 Southcrest Drive Suite 100
Birmingham, AL 35209
vernadearman@alacom.com
1 800-239-5909
Office 205 942-3360
Ext 639
Direct 205 397-3639
Cell 205 681-0679
Fax 205 942-5984

Randy DeArman

On-Site Inspector
Special Assets/Collections
Alabama Community Development Corporation
d/b/a Alacom Finance
117 Southcrest Drive Suite 100
Birmingham, AL 35209
1 800-239-5909
Office 205 942-3360
Fax 205 942-5984

Buck Cater

Liquidation Officer
Alabama Community Development Corporation
d/b/a Alacom Finance
117 Southcrest Drive Suite 100
Birmingham, AL 35209
buckcater@yahoo.com
1 800-239-5909
Office 205 942-3360
Ext 624
Cell 205 937-4115
Fax 205 942-5984

Alacom Finance Servicing Department performs SBA 504 loan servicing in accordance with Government statues, regulations and SOP.

Servicing Action

A servicing action is any action that changes the existing terms of the loan. Generally a servicing action results from a request from the borrower. The CDC prepares the recommendation for SBA approval.

All servicing actions presented to SBA must be recommended and requested by Alacom Finance.

The objective of loan servicing actions should reflect a positive outlook to meet the short and long terms needs of the small business. The CDC must recognize the possible results of their action (or inaction) on the ultimate success of the borrower. The CDC is responsible for the servicing actions necessary to support the normal growth of the small business; and for evaluating and responding to problems which may arise.

On-Site Inspection

Onsite visits are preformed within the first six months of funding, on or about the first anniversary of original onsite and at three year intervals for the life of the loan or as special needs arise such as in preparation for liquidation or after catastrophic events.

Onsite visits are preformed to confirm correct information such as address, phone and fax numbers, email; to verify the business is operating according to loan parameters; and to obtain photographic evidence that property and equipment are being properly maintained.

Paid in Full Loans

When a loan is paid in full, either by prepayment or maturity, the CDC is responsible for insuring that all applicable releases are recorded and for forwarding all satisfaction documents to the borrower.

Liquidation

Loan liquidation officers handle problem accounts which require enforced collection measures, or other actions to protect the interests of the Government. Liquidation officers take all necessary and appropriate steps in connection with the administration and collection of loans classified as “In Liquidation” typically prior to and especially after the Debenture has been purchased by SBA.