SBA & USDA Lending Solutions

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PROCEDURAL NOTICE 5000-20093

Guidance on Establishing Maturities of New 7(a) Loans Eligible to Receive Payments under Section 1112 of the CARES Act on or after February 1, 2021

Provides detailed guidance regarding the establishment of maturities for all new 7(a) loans (excluding PPP loans) approved between February 1 and September 30, 2021. Among the requirements spelled out in the notice, lenders are required to establish appropriate repayment schedules and loan maturities based on the SBA’s usual Loan Program Requirements, and are prohibited from shortening loan maturities in order to have any Section 1112 payments made by SBA pay all or a substantial portion of the loan.

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