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Preparing a 7(a) Purchase Package

To start the guaranty purchase process, the lender must first make demand for the repurchase of the guaranty. For your convenience we have provided the following resources for your use in preparing the purchase package.

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    7(a) Guaranty Purchase Package Tabs

    View the Regular 7(a) Guaranty Purchase Package Tabs.

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    Transcript of Account

    For purposes of transcript analysis in the guaranty purchase review process, SBA will consider the date of default to be the first day on which the full amount of a regular installment payment was...

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    Payment of Interest

    If SBA receives a lender’s complete purchase package within 120 days of default, then all interest is payable to the date of the purchase payment, including interest during the time SBA is...

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    Common Errors found in Purchase Packages

    Common Errors NGPC is Finding in Purchase Packages that May Delay Processing There are no tabs or the package is not organized in order of the checklist or authorization. (Please note that as of...

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    Purchasing Process Flow Chart

    View the Guaranty Purchase Process Flow – The Life of a Purchase Package. Guaranty Purchase Process Flow – The Life of a Purchase Package Stage 1: Intake Stage 2: Screening Stage 3: Legal 1 Stage 4...