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Guaranty Purchase Process
… request SBA to purchase is when there has been an uncured default exceeding 60 days.) When requesting the purchase of … liquidation and 30 days after the earliest uncured payment default, but must not make demand later than 180 days after the earliest uncured payment default (See also SOP 50 51 2A, Ch. 10, Para 3). How and … -
Audit Report 13-18: The SBA Did Not Effectively Manage Defaulted Disaster Loans to Maximize Recovery from 2006 to 2011
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Surety Bond Guarantee Program- Default Report, Claim for Reimbursement, and Report of Recoveries
… Surety Bond Guarantee Program- Default Report, Claim for Reimbursement, and Report of … provider can use this form to file an initial or updated default status report, file a claim for reimbursement, or … The Surety may use this form to file an initial or updated Default Status Report by completing sections A, B, C, and H. … -
Audit Report 14-06: Two Economic Injury Disaster Loans Defaulted After the SBA Made Approval Decisions Totaling $1.4 Million without Mitigating the Reasons for Prior Denials
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Governing rules and responsibilities
… government may terminate — or cancel — the contract for default. The government may terminate a contract for default if: You fail to deliver within the time specified in … of the contract If your contract is terminated for default, you’re entitled to payment for any goods or services … -
504 liquidations
… loan: The loan balance, including principal, interest, default interest, late fees, and prepayment penalty Indication if the loan is in default If a foreclosure action is imminent Legal notices … the Commercial Loan Service Center (CLSC) , copies of all default, foreclosure and bankruptcy notices filed by the … -
Liquidation Process
… must be performed within 60 days of an unremedied payment default or sooner if there are assets with significant value that could easily be moved or depleted. If a payment default does not exist, but an event has occurred which would … -
Claims and Recovery Program
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Become an SBA lender
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Operate as an intermediary
… one-eighth percent, less than two percent. Collateral and default As security for repayment of SBA loan, an … -
Loan Liquidation
… and procedures for handling 7(a) and 504 loans that are in default. SOP 50 51 3 The purpose of SOP 50 51 3 ("SOP") is to … and procedures for handling 7(a) and 504 Loans that are in default. Effective: November 15, 2010 | File size: 989KB | … and procedures for handling 7(a) and 504 loans that are in default. … Loan Liquidation … -
Become an SBA surety partner
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Instructions For Use Of SBA Form 148, Unconditional Guarantee, And SBA Form 148L, Unconditional Limited Guarantee
… will be released from liability, unless the Note is in default. If the total amount of the loan is reduced to the stated amount and the Note is not in default, the Guarantor will be released completely from … later increases over the stated amount. If the Note is in default, reduction below the stated amount will not release … -
ROM 10-10 - SBA's Administration of the Microloan Program under the Recovery Act
… Questionable SBA reported an average historical microloan default rate of 12 percent from FY 2004 to FY 2008, which … only reported slightly more than a I-percent historical default rate, and (2) 39 other intermediaries, including one … As a result, SBA cannot ensure that the reported microloan default rates are accurate and comply with the statutory … -
Audit Evaluation Report 13-17: The SBA's Portfolio Risk Management Program Can be Strengthened
… identified three high-volume franchises with historical default rates of at least 46-percent, default values over 38-percent, and loss rates over … five high-volume retail industries with historical default rates of at least 40-percent, default values over … -
Commercial Loan Service Center
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Audit of the SBA's Community Advantage Pilot Program
… complete M&TA information. Also, loans with M&TA had a default rate of 15 percent, while the loans without M&TA had a default rate of 13.5 percent. Further, we determined that the default rate for CA loans approved between FYs 2011 and 2016 … -
Office of Capital Access
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Guaranty purchase
… SBA agrees in writing, the borrower must be in payment default more than 60 calendar days. For loans approved on or …