LENDER TRAINING: 1502 Reporting Module within SBA Loan Portal
Date and time
-
Location
Online
Organizer
Nikki Bowmar
nikki.bowmar@sba.gov
nikki.bowmar@sba.gov ext. nikki.bowmar@sba.gov
Host organization
SBA - WVDO
Type of event
SBA event
Event description
On November 18, 2024, the new 1502 Reporting application within SBA Loan Portal went live to complete 1502 loan status and payment reporting.
Phase 1 Regional targeted lender training conducted November 2024 thru March 2025 completed introductory training and onboarding to new reporting platform.
Phase 2 Lender training conducted April & May 2025 offered supplemental training with full lender adoption requested by June 1, 2025.
Phase 3 Lender training conducted June thru September 2025 offered transition training with full lender adoption required by September 1, 2025.
March 2026 sessions will provide training refresher with user experience content since full adoption and answer questions.
The new 1502 Reporting Module:
- Reduces prior lender provided 1502 data elements from 16 to 9
- Calculates SBA’s guaranteed portion based on 100% portion level reporting
- Upfront data & calculation validations to reduce reporting errors downstream
- Introduces ACH Debit as a new payment option for 1502 reporting