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SOP 50 10 5(F) Technical Corrections

Posted by Prudent Lenders in News with No Comments

On September 25, 2013, SBA announced the release issuance of Standard Operating Procedures (SOP) 50 10 5(F) (Lender and Development Company Loan Programs) that would become effective on January 1, 2014. In the interim and prior to the effective date of the SOP, the Patriot Express Pilot Loan Initiative terminated, and the Office of Financial assistance received and reviewed questions and comments from internal and external sources regarding the SOP. As a result, SBA has made technical corrections to SOP 50 10 5(F) to remove references to the Patriot Express Pilot, where applicable, and to provide greater clarity and improved understanding.

Please contact Prudent Lenders if you have any questions.

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