Procedural notice 5000-846991

Implementation of Removal of the Loan Authorization

Impacts 7(a) and 504 loan programs

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The purpose of this notice is to implement the removal of the requirement for a Loan Authorization in accordance with the Final Rule on Small Business Lending Company (SBLC) Moratorium Rescission and Removal of the Requirement for a Loan Authorization) (88 FR 21890, effective May 12, 2023) (Rule) in the 7(a) and 504 Loan Programs. In accordance with the Rule, SBA is revising policies and procedures in Standard Operating Procedure (SOP) 50 10 6, to be effective to all applications received by SBA on or after May 12, 2023.

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File size: 234KB
Effective: May 12, 2023
Owned by: Office of Capital Access
Related Programs: Related programs: 7(a), CDC/504, Community Advantage
Last updated August 9, 2023