Best Practice: Understanding SOP 50 57 3: Denial of Liability on 7(a) Loan Guaranty
https://starfieldsmith.com/wp-content/uploads/2024/01/5b96cad3-d965-49fd-bacb-bc80c4417c57.mp3 Effective August 1, 2023, all SBA 7(a) loans (regardless of when they were originated) are subject to SBA’s SOP 50 57 3. The new SOP includes changes and clarifications to Chapter 25: Denial of Liability on 7(a) Loan Guaranty. When SBA May Deny Liability on a 7(a) Loan Guaranty Pursuant to 13 C.F.R. §120.524(a), ... Read More
Best Practices: Renewal and Update to SBA Form 1919
https://starfieldsmith.com/wp-content/uploads/2024/01/617791b7-f8ea-47d9-b567-568d3adb38c8.mp3 On December 26, 2023 SBA issued SBA Information Notice No. 5000-852422 which announced renewals and updates to certain SBA Forms. The most significant change is the issuance of a revised SBA 7(a) Borrower Information Form 1919. The new SBA Form 1919 conforms to changes in SOP 50 10 7.1 which requires an Applicant to ... Read More