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Reporting a Loan Paid-In-Full (PIF)

Once a loan has reached the status of Paid In Full the following steps will have to be completed in the following order:

  1. Notify of the paid in full status. Once your email  is received, the NGPC will remove the loan from liquidation status to initiate the process of indicating a PIF status in the SBA mainframe.

  2. Report the loan as a code "6" on your next monthly Colson 1502 reporting.

** If this process is not followed in the above order, the loan will show up on Colson's unreported list and the SBA mainframe will not update to PIF status. If this happens in error, please contact with any questions or concerns. 

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