SBA

SOP 50 10 MODERNIZATION INITIATIVE

In April of this year SBA launched an initiative to modernize our main loan processing Standard Operating Procedure: SOP 50 10. Our goal is to deliver a modernized SOP 50 10 that is concise and more user friendly for Lenders, Certified Development Companies (CDCs) and SBA personnel.
 

As part of this project, we expect to have SOP-related materials, such as Frequently-Asked Questions (FAQs) on specific topics in the SOP, available and accessible for use on SBA’s website.
 

This important project is under the leadership of Frank Borchert, III, General Counsel, and Michael Hager, Associate Administrator for Capital Access, with strong support from the Administrator. The working team will include personnel from Capital Access, Office of General Counsel and SBA Field staff.
 

As part of the SOP 50 10 Modernization Project, we are seeking specific, written feedback from a range of users – including Lenders, CDCs and SBA personnel – on how we should modernize and improve the SOP 50 10. Feedback should include suggestions regarding the document’s structure, the types and amounts of information to be contained in the SOP 50 10, information that could be included in other materials (for example, the FAQs), and the use of technology.

Overall timeframe for the project is to have a draft put into the Agency clearance process in the fall. And we are working hard to meet that goal. So we encourage commenters to provide us with feedback as soon as possible.

Comment letters should be sent to the following mailbox:
SOP50-10modernization@sba.gov.

We encourage you to comment!