April 13, 2011

Firm News for April 2011: David Starfield to Facilitate Breakout Session at NAGGL SBA Lending Conference

David joins Director Piccioni and others to briefly review the Center’s internal processes followed by a discussion of best practices for avoiding common errors. The SOP 50 51 3 now says that lenders must submit purchase packages that “demonstrate that SBA is obligated to honor its guaranty.” While SBA’s processing of 7(a) purchase requests is much improved, issues remain: new policies; new interpretations being applied to old loans; new undefined ‘prudent lending’ standards; and SBA’s questioning of loan underwriting, will all be discussed.