The Lender's Advantage Newsletter - October 2013

Newsletter Date: October, 2013

 

 

SOP 50 10 5(F) - Lender and Development Company Loan Programs

SBA Information Notice 5000-1290 (released on September 25, 2013) states that The Office of Capital Access is announcing the issuance of an update to the Standard Operating Procedure (SOP) 50 10 5 on Lender and Development Company Loan Programs.  This update will be known as SOP 50 10 5(F) and will be effective on January 1, 2014.  This version of the SOP will apply to all applications received by SBA on or after January 1, 2014.  The Information Notice summarizes some significant changes being made to both the SBA 7(a) and SBA 504 Loan Programs. Click here to view this Information Notice in its entirety. 

Rates

SBA Information Notice 5000-1291 (released September 26, 2013) announced the 1st Quarter "Peg" Rate, Direct Interest Rate, and Maximum Interest Rate of a Third Party Lender Loan for a 504 Project.  Click here to view this Information Notice in its entirety. 

West Texas District Office - Most Active SBA Lenders & Micro-Lenders

Do you want to find out which lenders and certified development companies are making the most SBA loans in this District?  Click here for detailed information regarding our most active participants in the SBA Loan Programs.
 

Lender Relations Hot Topics

SBA Information Notice:  5000 - 1288:  7(a) and 504 Fees Effective October 1, 2013

SBA Information Notice 5000-1288 (released September 24, 2013) announced a reduction in the FY 2014 yearly fee (also known as the "on-going guaranty fee" or the "annual service fee") for all 7(a) loans and a reduction in the upfront guaranty fee for all 7(a) loans in the amount of $150,000 or less.  Additionally, this Notice announces that there are no changes to fees for 504 loans approved during FY 2014.  Click here to view this notice.

Servicing and Liquidation Actions - 7(a) Lender Matrix

As lenders, you have unilateral authority to perform many servicing actions.  Some actions require prior SBA approval.  Even though you have unilateral authority to perform certain servicing actions, in some cases you must notify SBA.  To determine what action you must take on any given servicing issue, you should consult the “Servicing and Liquidation Actions - 7(a) Lender Matrix”.  The matrix does change periodically.  The current matrix is Version 9, dated 04-30-13 which can be found by clicking here.

If you have any questions regarding the matrix or any other servicing and liquidation issues, please contact Roger Henderson, Lender Relations Specialist, at 806-472-7462 ext. 107 or by email at:  roger.henderson@sba.gov

Lender Roundtable - Dumas, Texas - Wednesday, November 6,  2013

The West Texas District Office would like to invite all lenders in Dumas and surrounding communities to attend an SBA Lender Roundtable meeting that will be held at the 287 Roadhouse Restaurant on Wednesday, November 6, 2013, from 11:30 A.M. to 1:00 P.M.  Lenders will have the opportunity to network and receive the latest updates on the SBA loan programs. The 287 Roadhouse Restaurant is located at 1621 S. Dumas Avenue in Dumas, Texas.  If you are interested in attending this event, please contact Derenda Fisher at 806-472-7462 ext. 123 or by email at: derenda.fisher@sba.gov


Lender Roundtable - Canadian, Texas - Wednesday, November 13,  2013

The West Texas District Office would like to invite all lenders in Canadian and surrounding communities to attend an SBA Lender Roundtable meeting that will be held at The Cattle Exchange Restaurant on Wednesday, November 13, 2013, from 11:30 A.M. to 1:00 P.M.  Lenders will have the opportunity to network and receive the latest updates on the SBA loan programs. The Cattle Exchange Restaurant is located at 2nd and Main Street in Canadian, Texas.  If you are interested in attending this event, please contact Derenda Fisher at 806-472-7462 ext. 123 or by email at: derenda.fisher@sba.gov


Lender Roundtable - Levelland, Texas - Friday, November 15,  2013

The West Texas District Office would like to invite all lenders in Levelland and surrounding communities to attend an SBA Lender Roundtable meeting that will be held at Dickey's Barbecue Pit on Friday, November 15, 2013, from 11:30 A.M. to 1:00 P.M.  Lenders will have the opportunity to network and receive the latest updates on the SBA loan programs. Dickey's Barbecue Pit is located at 512 College Avenue in Levelland, Texas.  If you are interested in attending this event, please contact Derenda Fisher at 806-472-7462 ext. 123 or by email at: derenda.fisher@sba.gov

Monthly Society for Human Resource Management (SHRM) Program - November 13, 2013

The monthly SHRM Program will be held on Wednesday, November 13, 2013, at the Texas Tech University Merket Alumni Center located at 19th Street and University Avenue in Lubbock, Texas from 11:30 A.M. to 1:00 P.M.  The topic this month, presented by Carlos Plata, is:  "Beyond the Bumper Sticker:  Best Practices for Hiring and Retaining Veterans".  Scotty Arnold, SBA Lead Economic Development Specialist, will also make a short presentation regarding SBA programs and services.  Attendees should identify in their RSVP that they saw the advertisement in the SBA Lender's Advantage Newsletter to receive a discounted fee of $12.00 per person.  To RSVP or if there are any questions, please email:  SHRMSecretary@gmail.com or visit the SHRM website at:  http://lubbock.shrm.org  Please RSVP by 11:00 A.M. on November 8, 2013.  Please also bring a toy to donate to Toys for Tots.  All toys collected at the program will be donated at the Veteran's Fair on November 14, 2013. 


SBA Opportunities Workshop - November 26, 2013

The Texas Tech University Small Business Development Center (SBDC) in Lubbock will host the SBA Opportunities Workshop on Tuesday, November 26, 2013, from 6 P.M. to 8 P.M.  The SBDC's address is 2579 S. Loop 289 in Lubbock.  Small business owners will have the opportunity to learn more about the SBA loan programs and to learn about the services provided by the Small Business Development Center.  To register for this event, please contact Elaine Melot at 806-745-1637 or by email at:  e.melot@ttusbdc.org


Training Calendar

We are currently in the process of establishing our lender training calendar for the last few months of 2013.  Our Lender Relations team can provide training at your bank location or at our Lubbock District Office.  Training is available in the following topics:  Updates on the new SOP 50 10 5 (E), SBA Loan Programs, Purchasing & Liquidation or other topics.  To set up and lock in your training date, please contact the following individuals:   Armando Garcia, Lead Lender Relations Specialist at 806-472-7462 ext. 104/armando.garcia@sba.gov; Roger Henderson at 806-472-7462 ext. 107/ roger.henderson@sba.gov or Derenda Fisher at 806-472-7462 ext. 123/derenda.fisher@sba.gov
 

 

 

 

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