Loan SBA 504 SBA 7(a) Eligible business size: Net worth of $15 million or less.Average net profit after taxes for the past two years should be $5 million or less. SBA 504 loans are generally used for buying fixed assets like equipment or real estate, which ultimately acts as collateral for the loan itself. The first two phases are generally completed within 10 business days. Completed Loan Forms (Attached) 2. h�bbd```b``�"�H�(����"���"�`�����`r�������� 2,H2�BL� The total amount for the complete loan will depend on the project, with amounts up to $10 million. 0 ;Υm�D��� �Ư endobj %�쏢 To be eligible for a 504 Loan, your business must be operated for profit and fall within the size standards set by the SBA. 577 0 obj <>stream million for manufacturing businesses. U.S. SMALL BUSINESS ADMINISTRATION APPLICATION FOR SECTION 504 LOANS This form and exhibits are to be completed by the loan applicant and the Certified Development Company (CDC). x��Z�n\��h��F��⮂;��ߏ�� �l�8�H��9|�4�H�B�Z\����&�|ANu���; A 504 loan is a second deed of trust/second mortgage loan that sits behind a conventional private sector (but not a seller) loan. ��� �H�4�1L]��愌���v�(��#W4�=���������k�)��=R�w;y�i�Q�fH3"�[K�h~�UK��?��틣vh�t�k� ���:���:��u�������2%w��|�L1�'�&l���հN�KB͖���~��kRܬL��O���R�4�4��)�7�wCM���v���2 _____ 2. We pursue SBA 504 transactions from $500,000 to $10,000,000. First Steps Toward a 504 Loan. {��`�H*�9� �@��/�a�C��>�g9pG�b�u����a�6�9�6�jJ�O�4�d�׻I��h��!� �-���E���,㕐2���f�A���`��B��x���������7n���!6�y�)�IfU��v%���B��U�(RQ,�b��dH\[Fe������T >���� `3�ؤ��t��E$��D�e%��!�P�_6.�QLl7� "����Q�1J�|S|Mz)J�r`�}@0�� ����+�q �HŸ��߶�3�On@���:���"�L5�r�';_䠟C���mZ�$����Vd^��JS�l�Øh6Â�b(��WpnD���'Jdɐ�e"�M/�U��� �ޓ��? SBA 504 Loan Requirements Is your company eligible for an SBA 504 Loan? Typically, the private sector lender will finance 50% of the project cost and the 504 loan will finance up to 40% of the project cost. endstream endobj 535 0 obj <>/Metadata 92 0 R/Names 560 0 R/Outlines 159 0 R/Pages 532 0 R/StructTreeRoot 170 0 R/Type/Catalog>> endobj 536 0 obj <>/Font<>/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 537 0 obj <>stream The remaining 10 percent will be … We have included the most commonly required documents below. SBA 504 loans provide an opportunity to provide a smaller down payment. SBA 504 Loan Requirements for Borrowers, Projects, Lenders, and More While they are not as stringent as some other types of loans, you will find a wide range of eligibility requirements when it comes to the 504 loan program. Instead, the 504 loan is designed to help businesses in need of purchasing fixed assets. SBA 504 loan advantages Low down payments . Personal Financial Statement for each owner, proprietor, partner or stockholder with 20% or more ownership. 1. ӳl`^�jm�\��!����_rdhІ�P�W��f��Of_�'�8XtU'}�^-��U�¬�-���#X��!�ɪ�r]D�E��69����n���`�g�j��.q"*�l�nFk��u�a!��6aN���뛺���ݶ�mi�ڲ��rg:$ȍQH��7�x!^�})���ߑ�s>z These apply to you (the borrower), but also to lenders, and even the project you’re about to embark on. %%EOF The SBA 504 Loan Program creates a 3-party partnership: A private institution, such as a commercial bank, typically provides 50 percent of the total project financing. Create SBA 504 loan samples on the go! Please sign and date. completed, and then delivered to … To start the application process for an SBA 504 loan, lenders should look for a Certified Development Company (CDC) such as 504 Capital Corporation. 3 Disclosure Statement: 5 Business Information: 14 Project Information: 16 Borrower Information: 17 Statements Required by Law (SBA Form 1244, Note Highlighted Items) 18 Personal Financial Statement (SBA Form 413) 29 Tax Transcript Verification (IRS Form 4506-T) 35: stream Application for Section 504 Loans Section Three: Statements Required by Law and Executive Order and Certifications (Signed by the Applicant and Associates) SBA Form 1244 (05-2020) Page 11 undersigned further acknowledges that, in connection with a 504 loan, submission of any false statement to the We are not the Small Business Administration and are not a lender. This checklist has been provided to assist you through the process of gathering the necessary information for the evaluation of your loan . We pursue SBA 504 transactions from $500,000 to $10,000,000. request. These apply to you (the borrower), but also to lenders, and even the project you’re about to embark on. �a�����;�����s��*ӏ�iLtZk��ؓv痣ףk�k-������B¸^l,5Zz���?��! The U.S. Small Business Administration's SBA 504 Loan or Certified Development Company program is designed to provide financing for the purchase of fixed assets, which usually means real estate, buildings and machinery, at below market rates. The loan application can be downloaded from the SBA as a PDF file here. The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic. SBA 504 Loans. When applying for a 504 loan, you’ll need to provide the CDC and your lender with a very wide range of documentation. A CDC does not issue loans, but its loan experts guide you through the application process and submit your application to the SBA on your behalf. Take the first step to making your business dreams a reality. The basic application materials are no different than what a bank typically requires. When you fully complete the application we can maximize the use of our customized software and reduce your paperwork throughout the remainder of the process . Small Business Advice (or "SBA®" or SBA.com®") offers business advice, information and other services related to the formation, financing, operation and management of businesses. If you’re considering applying for an SBA 504 Loan to fund your small business’s fixed asset purchases (such as real estate, buildings equipment or machinery), you’ve made a wise business decision that will likely not only benefit your business, but also help drive economic development in your community. You will find the SBA 504 loan Program to be a powerful tool to help your business grow and we look forward to working with you.. Our application forms have been designed to help us expedite your financing request. )X����q6@���5�j�ؤ��Y�ч����ѽ��h�_b����-�^�n��z���} �12����o�h��W�욖�i�j�'�a��+;�u�[|������?|E߮NԢV������mdyeWMʛ)W��.�^�V�Ïݴ��٪�$ke�Vs�Av�Fߍ^'S�N�y3��7Q�:��y SBA 504 LOAN APPLICATION. SBA 7(a) - Financial institution determines rate terms. The SBA 504 Loan can be closed with a 10% down payment. 52 0 obj Ownership must be comprised of 51% U.S. citizens or registered aliens with green card. These are generally things like real estate and equipment, but can also be fixtures, new buildings, machinery and the like. SBA 504 Loan Application Form Sustainable Success Through Integrity, Transparency, and ... We are currently not accepting new applications. A Certified Development Company (CDC) is a nonprofit organization set up to administer the 504 loan program. The South Dakota Development Corporation is committed to providing a simple, straightforward loan application process. The business must do … Dear Prospective Loan Applicant, Thank you for your interest in our SBA 504 Loan Program and for the opportunity to consider your request for financing. ('���������~24u�4& 3����MF��B��!V�8��D Start the process by filling out the SDDC 504 Loan application form. Please sign and date.CLICK HERE NOTE: A deposit is required against the processing fee PRIOR to the loan being submitted to SBA. SBA 504 - The borrowers do not have the risk of an increase in the interest rate on the SBA loan making long-term planning for the business easier because borrowers know the amount of their mortgage payments for the next 20 years. To be eligible for an SBA 504 Loan, a small business must meet the following eligibility requirements: The business must be a for-profit, non-publicly traded company. SBA uses the information required by this Form 413 as one of a number of data sources in analyzing the repayment ability and creditworthiness of an application for an SBA guaranteed 7(a) or 504 loan or, with respect to a surety bond, to assist in recovery in the event that the contractor defaults on the contract. Once your online application is submitted, you will receive a confirmation email with a list of supporting documents that will need to be uploaded to our Secure File Transfer System. SBA 504 Loan Application Checklist; SBA 504 Loan Application Checklist. x�e�MkA���-�Ḁ.�,8m��Tw{˚Ġ�8%x6cX���ݨ?�3�54MS�o=U]�Pi�t�w�ȷW6��N"�ɍԃ If the proposed will be made to a loan separate Holding Company, provide information about that entity in Section 2. Application for SBA 504 Loan. Include any Schedule of Debts for existing and any government debt. SBA 504 Loan Program Application Requirements. The information is used to review the small business loan applicant’s eligibility, its indebtedness, creditworthiness, and certain other disclosures. ;��=9�{��!9�S��^�.T-�33pK���s@&4��\�a�rY�����Hb�&'�oY��ݼ�[H,�s�!�_�U�g�P����\$K?��5����]^��� ���5�M�-5�P�G�A.n��|v9o��� L�Q�]��E���.brzu�n7/��wjax�2P�+-�rJ�����H�-�)�\јG%�SCZ!���@�A�. r-4�ۏ�S������ao�I^�>�\���r�5'��wy�ڤ�/���w��cJ�f���j8ǿ���ݸo�h,�q��E��5f��}�~:��Nq+y���N:�\{8���9'M���LMǽ⮝O��{#�jW�� %x�|6���r�}���Lm'�㢍S��6+�\*ٮ'O0��c�&�cNhޞ�^��s��3I��� @A�T'��Z�G4�r�m&������v�`P��� %:�X��hV���w��y�l�8��b����G����̶� G �t;�� kAp�Q�o Ž���cܕ�N���b":ɕ�m�*�w�@�΄lWkL�^Z �;[���u޶a/���$���������� �r\�6,�/�ڗ��$2p�6�a�;�y�jhP{h[ p�~��фK�U��!i���! Everything you need to know about the SBA 504 loan program in comparison to other types of SBA loans. SBA Loan Application. sba504.loans is an independently owned and operated website and has no government affiliation . If your organization is designated by the SBA as a CDC authorized to issue 504 loans, use this page to access SBA forms, get program updates, and more. SBA 7(a) - Financial institution determines rate terms. The loan is also designed to allow those purchases at below market rates. It’s our hope that the program will prove to be of great benefit as you grow and expand your business. A Certified Development Company (CDC) is a nonprofit organization set up to administer the 504 loan program. monthly loan payments with potential buyers in seconds. ? Download the FREE TMC SBA 504 loan calculation application for your phone now: ��}��V�����E��)��#X���!엀�x��ɐ0:�����I} �"��EJ�~kލ��I�,��ʅ;g�yZ!���h��n����Y�Tw۝yy�¦��"Oo�&�����E��z��v���dq�f�W CN{���R�~�\�$�%��_~��(�,�+Rhg��On��n{P_�e���qr�,O�\�� +=�p�=���F��F ;�Z��lM�i2�I�l�).�tԤ7�(p3��t����/�2�_��`�u��;�j� ���64�Ao\��ɂ.�L{T>,ik��Ϝݞ7��5�0�`�L��a ϐ�S�Z��3ֹx�����Fײ���{p�ߨ�_�E���`�jF���S9 �r9 �j�k�p�he�8Cᒣ�+9-o����Q"��#8a�����+�R��IVt�:�_���n�Wh)��;lף�����̭i�a���@ټ���\g�� �j������EJ`ηԅ�Ϋ�װs؝|�4y�E��p���GJ_��A��1 It’s our hope that the program will prove to be of great benefit as you grow and expand your business. Borrower Application for SBA 504 Loan . In order to expedite your loan application, we have included a list of some of the SBA required items. !��� � `|�9aqlX�p%%^$�:�)��`F���\�7oh��M��_��%١�S0��r��x=��{�l���sN��h�,��y�إ���9a,r"F(K�y=ŧ�-���A�i���������S�h�\������z&_�Ѭ��M3l%7i=���ͤ���y���4ɎI������b�deAK~�^|�!�/IE�פ��5�+�ܝ%uJ�&�����֯�&�����M�^��*M�_�yz����a��N���� By submitting an SBA 504 loan application you begin your free pre-qualification analysis. 11. _____ 2. SBA 504 Loan Requirements for Borrowers, Projects, Lenders, and More While they are not as stringent as some other types of loans, you will find a wide range of eligibility requirements when it comes to the 504 loan program. However, it entirely depends on your project goals. -f ? To be eligible for an SBA 504 Loan, a small business must meet the following eligibility requirements: The business must be a for-profit, non-publicly traded company. Customize loan samples to include your name and company. 558 0 obj <>/Filter/FlateDecode/ID[<6F47A7DFEB24D745A2834670009E8F27><1F41F01ECCAA454EA9BA0529A3818965>]/Index[534 45]/Info 533 0 R/Length 119/Prev 193794/Root 535 0 R/Size 579/Type/XRef/W[1 3 1]>>stream endobj Phase three is the interim funding process, which generally occurs after SBA approves the project and issues a commitment for the 504 loan, with the funds being provided by the participating lender. Other requirements will be detailed at a meeting with a GSDC Loan Officer. 504 Capital Corporation is a non-profit CDC certified by the SBA to assist entrepreneurs and small business owners to get access to financing and all of the other benefits that come with an SBA 504 loan. Borrower Contact: Borrower Phone Number: Borrower Email: Borrower Name (Operating Company) Borrower Name (R/E Holding Company, if any) List of Owner(s) add page if needed % Owned List of Owner(s) % Owned . Other requirements will be detailed at a meeting with a GSDC Loan Officer. 38 0 obj The SBA 504 is a fixed term loan with payments amortized over 20 years. Complete information will be necessary to process your application. Complete information will be necessary to process your application. Document Checklist. . using SBA loan financing! These are generally things like real estate and equipment, but can also be fixtures, new buildings, machinery and the like. Share est. If the proposed will be made to a loan separate Holding Company, provide information about that entity in Section 2. Everything you need to know about the SBA 504 loan program in comparison to other types of SBA loans. The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic. 37 0 obj 504 Capital Corporation is a non-profit CDC certified by the SBA to assist entrepreneurs and small business owners to get access to financing and all of the other benefits that come with an SBA 504 loan. This program may require a down payment and are made available through Certified Development Companies (CDC’s) not lenders. -sOutputFile=? � ^g❸��5�O�J|��@~-.��A�~�� ������b��)5��:f\�X��0��a&�/B�i�}�Oc��ʪ�7p��Y^(� ���~`���s�QZ� / ��@� D2���Z�G>�h��p���*�+a�2��c���B���h9m�ћ�Ӷ��endstream Instead, the 504 loan is designed to help businesses in need of purchasing fixed assets. Getting pre-qualified for a commercial real estate loan, even before you find a building to buy, is the best approach. %%+ -dEmbedAllFonts=true -dSubsetFonts=true -dCompressFonts=true -dNOPAUSE -dQUIET -dBATCH ? ��[{�b��1��� /�L% x�`^1;! Interest Rates Below Conventional Loan Rates . The deposit is 1% of the SBA portion of the loan, or $2,500, whichever is less. Personal History Statement [SBA Form 912(2-2013)] The basic application materials are no different than what a bank typically requires. SBA 504 Loan Application . The program is so named because it was originally created by Section 504 of the Small Business Investment Act of 1958. A standard SBA 504 loan will be funded by three parties; 10% investment from the borrower, 40% from CDC like 504 Capital, and 50% from the lender. Please sign and date. CDC/504 loan program The SBA -backed portion of the 504 loan will be a second mortgage, financing up to 40 percent of eligible project costs. endstream endobj startxref request. SBA 504 Application Items Checklist 1 •Copy of bank's loan approval package including spreads, cash flow & narrative 2 •Completed and Signed copy of BDC Loan Application **(See additional comments below) Cost Documents 3 •Executed purchase agreement with all … <> The SBA -backed portion of the 504 loan will be a second mortgage, financing up to 40 percent of eligible project costs. Notice of any previous government financing. The U.S. Small Business Administration's SBA 504 Loan or Certified Development Company program is designed to provide financing for the purchase of fixed assets, which usually means real estate, buildings and machinery, at below market rates. To start the application process for an SBA 504 loan, lenders should look for a Certified Development Company (CDC) such as 504 Capital Corporation. 534 0 obj <> endobj Please sign and date.CLICK HERE NOTE: A deposit is required against the processing fee PRIOR to the loan being submitted to SBA. The SBA 504 Program provides small businesses the opportunity to purchase commercial real estate. 3 Disclosure Statement: 5 Business Information: 14 Project Information: 16 Borrower Information: 17 Statements Required by Law (SBA Form 1244, Note Highlighted Items) 18 Personal Financial Statement (SBA Form 413) 29 Tax Transcript Verification (IRS Form 4506-T) 35: Completed Loan Forms (Attached) 2. ��l�`�(��J�-�2�j�y6����4��� F���w��g���0�=F�~�t^�r/�륇�g6�r�}}����lp ǔ� � v0:H{k�= Ly�4��2f�V���z��i�E! The SBA 504 is a fixed term loan with payments amortized over 20 years. The SBA 504 Loan can be closed with a 10% down payment. SBA 504 LOAN APPLICATION. SBA 504 Application Items Checklist 1 •Copy of bank's loan approval package including spreads, cash flow & narrative 2 •Completed and Signed copy of BDC Loan Application **(See additional comments below) Cost Documents 3 •Executed purchase agreement with all … SBA 504 Loan Program. Application for SBA 504 Loan. Dear Prospective Loan Applicant, Thank you for your interest in our SBA 504 Loan Program and for the opportunity to consider your request for financing. The maximum amount for this loan is up to $5.5 million. Start or expand your business with loans guaranteed by the Small Business Administration. CLICK HERE 12. O�f�Hkaɨ "��� @��$&F&�9@1�������>0 ��[ The Following Must Be In File for SBA Submission: _____ 1.CDC Application, along with a detailed history and description of the business. To apply, you can either: Download and complete the SBA 504 application and return it to us through our Secure File Transfer System Fill out the application online. ��4�m�,KM��%���T�|("�-��Z�J쳴��i�ٳ��� ��^�_�b}'��E܇�VH7�*�Q��wZ/�v۝oh&��HTlT� Find A Loan Expert. The Following Must Be In File for SBA Submission: _____ 1.CDC Application, along with a detailed history and description of the business. The SBA 504 loan has low interest rates that vary based on market forces. This allows your business to conserve working capital to grow your business. Loan SBA 504 SBA 7(a) Eligible business size: Net worth of $15 million or less.Average net profit after taxes for the past two years should be $5 million or less. The SBA 504 Program provides small businesses the opportunity to purchase commercial real estate. Borrower Contact: Borrower Phone Number: Borrower Email: Borrower Name (Operating Company) Borrower Name (R/E Holding Company, if any) List of Owner(s) add page if needed % Owned List of Owner(s) % Owned . %PDF-1.6 %���� SBA 504 Loan Application This checklist has been provided to assist you through the process of gathering the necessary information for the evaluation of your loan request. %%Invocation: path/gs -P- -dSAFER -dCompatibilityLevel=1.4 -q -P- -dNOPAUSE -dBATCH -sDEVICE=pdfwrite -sstdout=? A 504 loan is a second deed of trust/second mortgage loan that sits behind a conventional private sector (but not a seller) loan. The loan is also designed to allow those purchases at below market rates. See our Advertiser Disclosure for more information on how we try to connect you with a Paycheck Protection Program (PPP) lender or other small business lenders. Our application forms have been designed to help us expedite your financing request. Complete information will benecessaryto process your application. SBA 504 Loan Application _____ Borrower's Contact Person: _____ Phone #: _____ E-Mail Address: _____ Provide information about the Operating Company in Section 1. 1. Interest Rates Below Conventional Loan Rates . This checklist has been provided to assist you through the process of gathering the necessary information for the evaluation of your loan . Please provide the information below: Business Tax Returns, including all schedules for prior three years; Personal Tax Returns, including all schedules for prior three years; Transcript Request Form; Personal Financial Statement; Personal Budget Analysis (Excel document) 418 CLICK HERE 12. Ownership must be comprised of 51% U.S. citizens or registered aliens with green card. Include any Schedule of Debts for existing and any government debt. Notice of any previous government financing. Personal History Statement [SBA Form 912(2-2013)] We are not the Small Business Administration and are not a lender. One click feature to send loan samples via email. �[Ą�^�@�$��nm\ ���J���be^���W&��0<3���T����ƫy�r�';�.�/��뵿0գ. Typically, the private sector lender will finance 50% of the project cost and the 504 loan will finance up to 40% of the project cost. stream This allows your business to conserve working capital to grow your business. Application for Section 504 Loans Section Two: Information Required to be Submitted by each Associate of the Applicant SBA Form 1244 (05-2020) Page 4 Each Associate of the Applicant must separately complete and sign this Section. The remaining 10 percent will be … SBA 504 Loan Application This checklist has been provided to assist you through the process of gathering the necessary information for the evaluation of your loan request. Under the 504 Program, a business qualifies if it has a tangible net worth not more than $15 million, and an average net income of $5 million or less after federal income taxes for the preceding two years prior to application. Business tax returns for the previous three years Personal tax returns for the previous three years Borrower Application for SBA 504 Loan . Use Lender Match to find lenders that offer loans for your business. IS�5�Hz�6E'��0vd�����~Ͼb.��N����3�y�A��D��!eDF -P- -dSAFER -dCompatibilityLevel=1.4 -dAutoRotatePages=/None -dPDFSETTINGS=/ebook -dDetectDuplicateImages=true Personal Financial Statement for each owner, proprietor, partner or stockholder with 20% or more ownership. The 504 loan consists of a conventional first mortgage, typically for 50 percent of the project cost, from SMB-Loans. The maximum amount from the lender is $5 million, or up to $5.5. 11. Apply for an SBA 504 Loan. We believe you will find the SBA 504 Loan Program to be a powerful tool to help your business grow and we look forward to working with you. SBA programs are well-known for funding start-ups and less established businesses, but the 504 loan program is different. Complete information will benecessaryto process your application. The program is so named because it was originally created by Section 504 of the Small Business Investment Act of 1958. The SBA 504 loan has low interest rates that vary based on market forces. 1. Your business’s eligibility for the 504 loan program Your business’s current level of indebtedness While the CDC will complete some of the application, you, the borrower, must initiate the process. SBA 504 - The borrowers do not have the risk of an increase in the interest rate on the SBA loan making long-term planning for the business easier because borrowers know the amount of their mortgage payments for the next 20 years. The 504 loan consists of a conventional first mortgage, typically for 50 percent of the project cost, from SMB-Loans. The deposit is 1% of the SBA portion of the loan, or $2,500, whichever is less. h޼WmO�H�++>�*n�o^��C With the SBA 504 loan program, you can qualify for a low, fixed interest rate loan with up to a 25 year term, and put as little as 10% down. %PDF-1.4 sba504.loans is an independently owned and operated website and has no government affiliation . F����C�)�)L����1�0�0�0'p8@�J:��`�:��9�c���Ҍ@���N�B���@ږ�}�[���)���d|R8�.���9뒧����ܒu����P툙V����9���ͳ+d,: ���t�H�RJnc�� � r�� Please provide the information below: Business Tax Returns, including all schedules for prior three years; Personal Tax Returns, including all schedules for prior three years; Transcript Request Form; Personal Financial Statement; Personal Budget Analysis (Excel document) An SBA 504 loan normally comes with 10-year terms for equipment and 20-year terms for real estate. SBA uses the information required by this Form 413 as one of a number of data sources in analyzing the repayment ability and creditworthiness of an application for an SBA guaranteed 7(a) or 504 loan or, with respect to a surety bond, to assist in recovery in the event that the contractor defaults on the contract. SBA 504 loan advantages Low down payments . �ܬ 5�D�T��Š!a�xфq+�Eј0! SBA 504 Loan Application _____ Borrower's Contact Person: _____ Phone #: _____ E-Mail Address: _____ Provide information about the Operating Company in Section 1. The law also authorizes SBA to transfer to another Government authority any financial records included in an application for a loan, or concerning an approved loan or loan guarantee, as necessary to process, service or foreclose on a loan or loan guarantee or to collect on a defaulted loan or loan guarantee. SBA 504 Loan Application Checklist; SBA 504 Loan Application Checklist. 1. SBA 504 loans provide an opportunity to provide a smaller down payment. Completed Loan Forms (Attached) 2. &�� \D4�������ՆF ��߁�A��C� h�b```�M�s@��������c��+�1�;.ъ[D�|+pd�0�0\�xI*bs�yYCϮ���7��=2qq����|*�O\{�Rf�;0p40t04�40 �t�d5PZ���� H��B����L�=L;������1E��R��֡�Z�7����T��zF��QC� Document Checklist. Completed Loan Forms (Attached) 2. SBA 504 Loan Program Application Requirements. 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