SBA Notices

Updated Notice on First Draw Paycheck Protection Program Loan Increases After Enactment of the Economic Aid Act

Second Extension of Notice Providing Guidance on Underwriting 7(a) Loans during the COVID-19 Pandemic and Miscellaneous Related Matters Procedural Notice Synopsis The SBA issued SBA Procedural Notice 5000-808534 on April 14th, 2021 which serves as a great reminder that we as lenders must continue to practice prudent lending in our evaluation of new SBA loan

Guidance on 7(a) and 504 Loans with Monthly Installments in Excess of $9,000 The notice provides supplemental guidance for lenders that have loans sold into Secondary Market pools when the maximum $9,000 payment made by SBA under Section 1112 of the CARES Act, as amended, is less than the total installment amount due. For a

Adjustment to Number of Months of Section 1112 Payments in the 7(a), 504 and Microloan Programs Due to Insufficiency of Funds Amends previously issued guidance related to the extension of Section 1112 payments as authorized by the Economic Aid Act. That Act established the upper limit on the number of payments that could be provided

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

Revises guidance provided in SBA Procedural Notice 5000-20083, SBA Procedures for Addressing Unresolved Issues on Borrower First Draw PPP Loans. Provides additional guidance regarding the handling of loans with hold codes.