On March 16, 2012 the SBA issued SBA Procedural Notice 5000-1231 “SOP 50 10 5(D) – Credit Alert Verification Reporting Systems (CAIVRS) extending the December 31, 2012 deadline set by SBA Procedural Notice 5000-1227 for delegated lenders to meet the SOP requirements to use CAIVRS for 7(a) and 504 loans processed under delegated authority.  This notice included detailed instructions about how delegated lenders could work to comply with these requirements.

SBA believes this extension will provide the necessary time to work with the Department of Housing and Urban Development (HUD) to facilitate the registration process for our delegated lenders and PCLP-CDCs.