The SBA’s loan programs have recently undergone numerous updates to make access to capital to business borrowers easier. The Standard Operating Procedures (SOP) manual for the loan programs was re-written both Aug 1st and Nov 15th of 2023 to include numerous updates to eligibility, credit and collateral criteria, and the application process. It has been the biggest update in at least 15 years!

This is a virtual workshop will get you up to speed on what the programs look like today, what has been updated in the latest SOP, and what you need to know for processing loans in today’s environment.

You will receive helpful handouts that will come in handy for when you are using the SBA programs and processing applications.

PART 1 – OVERVIEW OF THE PROGRAMS TODAY

• Loan programs as they are available today.
  • Uses of proceeds
  • Fees & interest rates
  • Guaranty %’s
  • Terms
  • Borrower eligibility
  • Opportunities available in our current market.
  • Opportunities for when interest rates improve.
  • Changes of Ownership and Partner Buyouts & Refinancing.

PART 2 – UPDATES FROM SOP 50 10 7.1 (Effective 11.15.2023)

• Updates in the current SOP compared to what we’ve historically done.d
  • Changes to procedures and eligibility
  • Removal of the authorization and some forms
  • Updates to credit criteria
  • Updates to collateral criteria
  • Changes to insurance requirements
  • Changes to loans up to $500,000
  • Changes to loans over $500,000

PART 3 – LOAN PROCESSING PROCEDURES

• Working with SBA’s loan processing center.
  • Procedures removed from processing applications.
  • Current forms to be used.
  • Changes to E-Tran – SBA’s loan processing system
  • What’s up with these compliance checks?
  • Helpful hints in processing loan applications