Issuance of SOP 50 10 5(J)
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The SBA has issued Standard Operating Procedure (SOP) 50 10 5(J), Lender and Development Company Loan Programs, which is effective January 1, 2018.
This update to the SOP provides additional guidance and incorporates revisions to conform to changes in SBA regulations published in the Final Rule entitled “Miscellaneous Amendments to Business Loan Programs and Surety Bond Guarantee Program” (“Final Rule,” 82 FR 39491, August 21, 2017).
SOP 50 10 5 (J) was revised to incorporate regulation changes and to provide better guidance to SBA staff and external stakeholders. The Final Rule amended SBA regulations to update, streamline and clarify rules for the 7(a) and 504 Loan Programs, among others. Additional improvements incorporated into this SOP update are a result of internal policy review and determinations, and recommendations and feedback received by SBA from SBA Lenders, NAGGL, NADCO and other industry participants.
This SOP 50 10 5 (J) update applies to all applications received by SBA on or after January 1, 2018. Participants must continue to use SOP 50 10 5 (I) in the execution of SBA 7(a) and 504 lending through December 31, 2017.
Users are advised to fully read SOP 50 10 5(J) to ensure understanding of all changes which are effective January 1, 2018.
Variations of this document
- Version 1 | Effective: | File size: 232KB | Download .pdf for 1 / October 13, 2017