Lender FAQs:

Q1. Are all applications to be sent to Hazard?

Answer: No, When we started we planned to have everything sent to Hazard. Now that we have completed centralization, it doesn’t matter where you send them. With our system whether the package shows up in Sacramento or Hazard, it gets entered into the same system, and as soon as it has a loan application id number, it is accessible by the next available loan specialist at either site.

Q2. How are companion loans to be handled, i.e. PLP, SBAExpress?

Answer: The Standard 7(a) Processing Center will coordinate handling of companion loans with the PLP/Express and 504 Groups.

Q3. 912 issues, what to do?

Answer: District offices will continue to handle 912 issues, and if an issue is waived, notification must be sent to the Center for an application to be approved.

Q4. Does the 7(a) Eligibility Questionnaire replace the PLP Eligibility Checklist?

Answer: No, PLP lenders will continue to submit PLP loans with the PLP checklist.

Q5. What about CLP lenders? What do we do?

Answer: Follow the current process, and send application to Hazard.

Q6.  We heard that Hazard is going to handle the special program loans (Caplines, EWCP & IT) and Sacramento the rest?

Answer: Hazard will handle Caplines and regular 7(a). Sacramento will handle non PLP/Express EWCP and IT loans, plus regular 7(a).

Q7. Do we have to submit affidavits with our 912s?

Answer: No.

Q8. Can we submit Franchise Agreements that are not on the Franchise Registry in advance of the loan application to determine their eligibility?

Answer: Yes, send them to Sacramento for legal review.

Q9. Please clarify the size standard for Travel Agents. Do we use gross or net receipts?

Answer: The 13 CFR indicates in the footnotes for Travel Agents, that it is total revenues, excluding funds received in trust for an unaffiliated third party, such as bookings or sales subject to commissions. So it would be the net receipts.

Q10. Do we need to send in the SBA Form 1624 (Debarment, Suspension) or the SBA Form 1846 (Lobbying) to the Center?

Answer: No. You are required to obtain them, however you retain them in your loan file.

Q11. Can we send loan applications to the Center by email?

Answer: Yes, send them to 7aloanprogram@sba.gov , there is a 5 Meg size limit on attachments, so you may wish to zip the attachments or send multiple emails in order to avoid having the email disappear in the internet ether.

Q12.  Do you need original signatures on documents?

Answer:  No, photocopies are all the Center needs however you should retain the originals in your loan file.