COVID-19’s impact continues to be widely felt. For the SBA lending industry, this is particularly important because Section 1112 of the CARES ACT—which permitted the SBA to make up to six months of payments for SBA borrowers—closes at the end of September. In October, payments will resume as normal for most clients in your portfolio. […]
COVID-19 Lender Resources: Loan Modifications Read More »
Due to the COVID-19 outbreak, the SBA has put forth a notice reminding Certified Development Companies, Microloan Intermediaries and 7(a) lenders of their ability to defer payments to existing borrowers under certain circumstances. We wanted to ensure that you are aware of this notice. SBA Notice 5000-20004 Deferments on SBA 7a 504 and Microloans
SBA Notice 5000-20004: Deferments on SBA 7a 504 and Microloans Read More »
Learn about required SBA loan application forms and tips to avoid processing delays The U.S. Small Business Administration (SBA) helps lenders approve more business loans by providing guarantees that significantly reduce lending risks. Along with the guarantee comes a comprehensive application package, but don’t be thrown by its requirements: most forms only require straightforward information
SBA Application Forms: Key Document Information for Lenders and Your Clients Read More »
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