What is an RSRA?
Also known as a Record Search with Risk Assessment (RSRA), it was designed to meet the specific requirements of the Small Business Administration’s protocol for environmental investigations – SOP 50 10 8.
Many lenders use this tool for non-SBA deals too as it is a prudent yet cost-effective option for environmental risk management.
CREtelligent also offers an RSRA that we call "Conventional" for non-SBA loans. The difference is the Conventional RSRA provides a low, moderate, or elevated risk rating whereas the SBA version only provides low or elevated.
This RSRA report makes use of a broad array of historical database information, including available aerial photographs Sanborn Maps, and city-specific directories. Additionally, this report requires a regulatory database record search set to the ASTM prescribed search radius, as well as any available archival information previously provided by existing or previous subject site stakeholders (i.e., questionnaires, prior environmental reports, etc.).