Released August 29, 2023, this SBA notice removes the SBA guaranty fee for borrowers of $1Million or less and announces new annual fees for SBA lenders. The changes are effective October 1, 2023. Ask Windsor: SBA Underwriting Support As the nation’s leading LSP, our team of SBA loan underwriting, processing, and servicing experts is at …
(New Guaranty Fees) SBA Procedural Notice 5000-848801 Read More »
There has been ample discussion in the SBA space about the widespread changes implemented by the new SOP 50 10 7, effective August 1, 2023. Most people have heard of the “do what you do” concept, allowing for partial changes of ownership, updates to the equity injection source and verification, and more. However, the new …
The new SBA SOP 50 10 7 raised several questions surrounding the concept of applying to SBA loans the policies lenders would follow for “similarly-sized, non-SBA guaranteed commercial loans”. The SBA has continued to expand what is referred to as the “do what you do” concept to give lenders more flexibility with structuring, underwriting, closing and …
“Do What You Do”: Adapting to the 2023 SBA SOP Changes Read More »
The new SBA SOP 50 10 7 is effective August 1, 2023. Download the SBA SOP 50 10 7 pdf below, and explore additional resources for understanding and adapting to the impacts of the SBA’s changes in 2023 with our SBA SOP HQ (coming soon). Should you have any questions about the changes in the …
UPDATED: May 19, 2023 for SBA’s Delayed Implementation of Removal of SBA Authorization. Windsor Advantage will continue updating this article with the latest changes as they are announced. In early May the SBA released two procedural notices (SBA Procedural Notices 5000-846607 and 5000-846991) in anticipation of the latest SBA SOP 50 10 7. The SOP …
New 2023 SBA Procedural Notices: Key Takeaways for Lenders Read More »
The purpose of this Notice is to inform 7(a) Lenders, Certified Development Companies (CDCs), together known as “SBA Lenders,” SBA employees, and Applicants and Borrowers of the 7(a) and 504 Loan Programs of the issuance of Standard Operating Procedure (SOP) 50 10 7, Lender and Development Company Loan Programs. Should you have any questions about …
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