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Best Practices: What SOP 50 10(7) Does Not Tell Us

Over the past few weeks we have discussed many of the changes in the SOP 50 10 (7).  Now that it is in effect, and as we wait…
  • August 9, 2023
  • Kimberly A. Rayer

Best Practices: Appraisal Requirements Under SOP 50 10 7

SOP 50 10 7 will apply to all SBA loan applications received by the SBA on or after August 1, 2023.  SOP 50 10 7 sets forth real…
  • August 1, 2023
  • Michelle Sergent Kaas

Best Practices: Debt Refinance Requirements Under SOP 50 10 7

As we approach August 1, 2023, the effective date of the new SOP 50 10 7, the SBA lending community continues to digest and analyze the changes from…
  • July 25, 2023
  • Katie O'Brien

Best Practices: Insurance Requirement Changes for SBA 7(a) Loans

Hazard insurance requirements for SBA 7(a) loans were updated in SBA Procedural Notice No. 5000-846607, which went into effect on May 11, 2023.  The changes to Hazard insurance,…
  • July 18, 2023
  • Janet M. Dery

Best Practices: Partial Changes of Ownership on SBA Loans

On May 9, 2023, the SBA issued Procedural Notice 5000-846607 (“SBA Notice”) which addresses the implementation of SBA’s Final Rule on Affiliation and Lending Criteria for the SBA…
  • July 11, 2023
  • Timothy D'Lauro

Best Practices: Collateral Requirement Changes for 7(a) Loans

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,…
  • June 30, 2023
  • Victor A. Diaz
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