The SBA 504 program is a great product for construction projects. Occasionally the borrower has expertise in construction or even doubles as a contractor and wants to lead the construction of their project. This is referred to as Do-It-Yourself or DIY.
DIY’s are permissible per SBA guidelines, although not SBA’s preference since DIY projects often lack the quality of projects performed by third party professional contractors. However, if a borrower has experience and wants to do their project DIY, they will need to provide two bids from alternate contractors, showing the DIY bid as be the lowest cost bid.
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