The Lender's Advantage Newsletter - April 2013

Newsletter Date: April, 2013

Small Business Week Celebrations - June 2013

SBA has designated the month of June as the time to celebrate its Small Business Award winners.  The West Texas District Office will be participating in several small business award celebrations during June. For additional information, please contact Kim Hobgood at 806-472-7462, Extension 108 or by email at kimberly.hobgood@sba.gov

Rates

Effective March 20, 2013, The Office of Financial Assistance announced the 3rd Quarter "Peg" Rate and Maximum Interest Rate of a Third Party Lender Loan for a 504 Project.  Click here to view SBA Information Notice 5000-1271.

Current Lender Activity Report

The March 2013 SBA Lending Activity Report is now available.  Click here to review the report.

West Texas District Office - Most Active SBA 7(a) and 504 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

Ten Tab Guaranty Purchase Submission Tabs

Separate “Ten Tab Guaranty Purchase Submission Tabs” exist for different 7(a) loan guaranty programs.  If the loan is a Standard 7(a) loan, PLP, or a LowDoc Loan, the ten tab purchase package will be sent to the National Guaranty Purchase Center (NGPC) in Herndon, VA.  Express, Patriot Express (PTX) loans, and American Recovery Capital (ARC) loan purchase packages should be sent to the Little Rock Servicing Center (LRSC).  The Small Loan Advantage (SLA) is SBA’s newest loan guaranty product.  To request payment of the guaranty on a SLA, the tabs used for Express Loans should be utilized.  The ten tab system can be found by going to www.sba.gov/for-lenders.  After entering the website, scroll down to the Commercial Loan Service Center (Little Rock, AR) site where you will click on the “10-Tab Express PDK (Purchase Demand Kit)”.  The ten tab purchase packages for Express and ARC loans are submitted electronically to the LRSC.  The NGPC prefers the call package be sent electronically by using the “Send This File” method which can be found in SBA’s website.  For additional information on this topic or questions regarding loan servicing, liquidation, or guaranty purchases, please call Roger Henderson, LRS/Brand Manager at 806-472-7462, Extension 107 or by email at roger.henderson@sba.gov

Small Loan Advantage Program & IRS Transcript Verification Requirements 

SBA Standard Operating Procedures (SOP) 5010 5(E) page 184 states that for the Small Loan Advantage Program "lenders must verify the accuracy of the applicant’s financial data against income tax data by submitting IRS Form 4506-T, Request for Transcript of Tax Form to the Internal Revenue Service (IRS) as required in Chapter 5, Paragraph III of this Subpart".  Lenders that are not Preferred Lender Program (PLP) lenders are required to make a statement in their credit memos that they have verified the accuracy of the applicant's financial data against income tax data obtained from the IRS via Form 4506-T. The Guaranty Loan Processing Center in Citrus Heights has made this a condition of loan approval for non-PLP lenders. So, it is very important that IRS Form 4506-T is sent to the IRS as soon as possible so as to expedite the approval process for SLA loans submitted by non-PLP lenders. The Internal Revenue Service (IRS) has implemented a new expedited service through which the financial community can expeditiously confirm the income of a borrower during the processing of a loan application: Income Verification Express Service (IVES) program. Under IVES, the IRS can electronically provide tax return transcript, W-2 transcript and 1099 transcript information generally within 2 business days to a third party with the consent of the taxpayer. The transcript information is delivered to a secure mailbox based on information received from a Form 4506-T. A $4.50 fee is imposed on each transcript requested. It is expected that this process will replace the current process, which requires the manual pick-up and delivery of transcripts from the seven IRS Return and Income Verification Services (RAIVS) units located across the country. Under the new system, transcripts will be delivered electronically using the e-Services platform via a secure mailbox. To participate in the IVES program, lenders will need to register and identify employees to act as agents to receive electronic transcripts on the lender’s behalf. To establish access to a secure mailbox, lenders will need to register, which can be done through the following IRS website: http://www.irs.gov/Individuals/IVES-Enrollment-Procedures. Additional information on IVES is also available from this website.  For additional information on this topic, please contact Derenda Fisher, Lender Relations Specialist at 806-472-7462, Extension 123 or by email at derenda.fisher@sba.gov

Lender Roundtable - Big Spring, TX - May 8, 2013

The West Texas District Office would like to invite all lenders in Big Spring and surrounding communities to attend an SBA Lender Roundtable meeting that will be held at the Spanish Inn Restaurant on Wednesday, May 8, 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 Spanish Inn Restaurant is located at 200 NW 3rd Street in Big Spring, Texas.  Lunch will be at the attendee's expense.  If you are interested in attending this event, please contact Derenda Fisher at 806-472-7462, Extension 123 or by email at derenda.fisher@sba.gov

Lender Roundtable - Snyder, TX - May 16, 2013

The West Texas District Office would like to invite all lenders in Snyder and surrounding communities to attend an SBA Lender Roundtable meeting that will be held at The Butcher's Block Restaurant on Thursday, May 16, 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 Butcher's Block Restaurant is located at 1600 25th Street in Snyder, Texas.  Lunch will be at the attendee's expense.  If you are interested in attending this event, please contact Derenda Fisher at 806-472-7462, Extension 123 or by email at derenda.fisher@sba.gov

Lender Roundtable - Seminole, TX - May 23, 2013

The West Texas District Office would like to invite all lenders in Seminole and surrounding communities to attend an SBA Lender Roundtable meeting that will be held at the Just A Bite Restaurant on Thursday, May 23, 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 Just A Bite Restaurant is located at 400 N. Main Street in Seminole, Texas.  Lunch will be at the attendee's expense.  If you are interested in attending this event, please contact Derenda Fisher at 806-472-7462, Extension 123 or by email at derenda.fisher@sba.gov

SBA Women's Lender Forum - Midland/Odessa - Wednesday, May 29, 2013

The 1st annual Midland/Odessa Women’s Lender Forum will be held on Wednesday, May 29, 2013 from 9:00 A.M. to 3:00 P.M., at the Odessa Country Club in Odessa, Texas.  The Odessa Country Club is located on Fairway Drive in Odessa, Texas.  The SBA West Texas District Office will be in attendance and its Lender Relations Specialists will provide the latest updates on the SBA loan programs and services.  Lenders may register by contacting Rachel Stone, Midland Hispanic Chamber of Commerce, at 432-682-2960 or by email at rls@midlandhcc.com

SBA Opportunities Workshop - May 29, 2013

The Texas Tech University Small Business Development Center (SBDC) in Lubbock will host the SBA Opportunities Workshop on Wednesday, May 29, 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.  Be sure 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 rest of 2013.  Our Lender Relations team can provide the 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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San Antonio District Office
615 E Houston St. Suite 298
San Antonio, TX 78205
United States
Phone: 210-403-5900
Fax: 210-403-5936
TTY/TTD: 210-403-5933
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Monday through Friday from 8:00 AM to 4:30 PM