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… the liquidation process, the Center reviews and approves lender actions, as necessary. When no further recovery is … the Center also performs a comprehensive review of the lender’s wrap-up report, liquidation plan, and relevant  documentation to determine if the lender materially complied with SBA’s liquidation …

… identified as part of our review.  We identified material lender non-compliance with SBA’s loan origination and closing requirements.  Specifically, the lender neither ensured SBA loan proceeds were used for an … with SBA’s requirements.  As a result, a recovery from the lender for SBA’s guarantee payment of $850,791 is appropriate …

… for / August 1, 2024 Related programs: 7(a) SOP 50 10 Lender and Development Company Loan Programs SOP 50 56 1 Lender participation requirements SOP 50 57 7(a) Loan …

… to represent the program as an affiliated bond agent of a Preferred Surety Bond company and may only use the SBA bond …

… review of five early-defaulted loans identified material lender origination and closing deficiencies that justified … that the Small Business Administration (SBA) require the lender to bring the loan into compliance and, if not … SBA agreed with the recommendation and has contacted the lender to obtain additional information to bring the loan …