Kelly Loeffler, newly confirmed as the 28th Administrator of the U.S. Small Business Administration (SBA), outlined her priorities in a Day One memo. She emphasized rebuilding the agency into a…
On December 6, 2024, the SBA issued Procedural Notice 5000-862692, clarifying that its 7(a) and 504 loan programs can be used in conjunction with Commercial Property Assessed Clean…
The 504 loan program is used to finance fixed assets for eligible small businesses, primarily costs related to the acquisition and/or improvement of real estate or other long-term…
Effective May 30, 2024, the criminal background review process for those applying for SBA guaranteed loans will undergo a significant change. It removes restrictions the SBA deems limit…
As we continue highlighting updates to SBA loan programs, we now focus on Chapter 26 of SOP 50 57 3. This chapter covers the duty to report suspected…
Collateral requirements for Standard 7(a) Loans (those greater than $500,00) and 7(a) Small Loans (those under $500,000) will be updated under the new SOP. For 7(a) Small Loans,…