SBA Lending Update: Revised SOPs Effective January 1, 2014
Date:December 6, 2013
More information about how to Register for this event coming soon.
The long-awaited 5(F) version of the SOP 50 10 has been released and will become effective on January 1, 2014.
In today’s economic climate, the U.S. Small Business Administration (“SBA”) loan program continues to be one of the primary outlets for banks and other lending institutions to provide capital to their small business clients and, at the same time, secure a 50% to 85% loan guaranty from the federal government. While the program can be quite profitable, it is not without its risks. Compliance with SBA regulations is mandatory to insure success and profitability. This webinar will cover substantial policy changes, including changes to: credit criteria, collateral policies, appraisal and business valuations, life insurance –and much more.
- Changes to Collateral policies
- New application forms
- Revised Life Insurance requirements
- New Credit requirements
- Revised Franchise loan guidelines
- New collateral ratios
- New requirements for PLP approval and renewal
- New form requirements