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Bipartisan, Bicameral Small Business Committee Leaders Introduce Legislation Protecting Integrity of 7(a) Loan Program

"The 7(a) loan program is a Small Business Administration program that helps entrepreneurs and small businesses access credit to start and grow their businesses. The Small Business 7(a) Lending Oversight and Reform Act of 2018 preserves this important loan program by:

Strengthening SBA’s Office of Credit Risk Management by outlining in statute the responsibilities of the office and the requirements of its director;
Enhancing SBA’s lender oversight review process, including increasing the office’s enforcement options; 
Requiring SBA to detail its oversight budget and perform a full risk analysis of the program on an annual basis; and
Strengthening SBA’s Credit Elsewhere Test by clarifying the factors that must be considered."

By bolstering the SBA’s oversight office and providing the Administrator with flexibility to increase the program’s maximum lending authority in the event it would be reached, this bill will ensure the strength of the program into the future, guaranteeing that entrepreneurs will have access to the critical capital they need to build and grow their businesses.  

Senate Committee >
House Committee >

NAGGL CEO Tony Wilkinson will be testifying at next Wednesday's hearing on the proposed legislation. 

Follow the bill's progress on Congress.gov

S. 2283 >

H.R. 4743 >


Federal regulators request comments on HVCRE rules, Simplifications to the Capital Rule Pursuant to the Economic Growth and
Regulatory Paperwork Reduction Act of 1996

A proposed rule published on October 27 asks for comments on simplifications to certain aspect of the capital rule.  Comments are due on December 26.  NAGGL's comment letter is available here >


SBA publishes Notice on Technical Corrections for SOP 50 10 5(J)

Notice 5000-17029 provides a list of the changes based on location in the technically corrected SOP 50 10 5(J).  

SOP 50 10 5(J) - Tracked changes >

SOP 50 10 5(J) - Highlighted >


Note: IVES and IRS transcript delays

The IRS has been updating their the transcript request process. IRS has also strengthened their access for the IVES system and users of this system. Existing users of IVES will need to update their account by providing more information (mobile phone number and tax information) in order for IRS to authenticate identities.  For new users, additional steps will be required including providing emails, mobile phone number, tax information and personal financial account information. 

This new IRS requirement is intended better protect the personal information of all taxpayers. More information on the recent changes >


Congress agrees to short-term Continuing Resolution to fund federal government - Expires January 19

NAGGL, as always, will be watching the situation closely and updating members when there is credible information to report.




We need current borrower success stories!

We regularly share details of borrowers success after receiving a 7(a) loan with The Hill. Our treasure chest of stories needs to be replenished with current stories. PLEASE - Send them our way >

 


                                           
More >

 

Long Beach, CA Training Schedule
We anticipate high enrollment for this event, so please register early!

     
Location:
Hyatt Regency Long Beach      
200 South Pine Avenue
Long Beach, CA 90802
Phone: 562.491.1234 

Reservations: 800.233.1234
Online Reservations >
Hotel Room Rate: $209
Hotel Cut-Off Date: February 23 

 

* All courses qualify for applicable NAGGL lender diploma program credit.



SBA Lending Technical Conference
May 1-3, 2018 • Chicago, IL

Registration Opens January 29!

Conference Fee:
By March 23: $975 mbr, $1,475 non-mbr, $675 govt
After March 23: $1,250 mbr, $1,950 non-mbr, $675 govt     

Preliminary Conference Agenda >

Location:
Hyatt Regency Chicago
151 East Wacker Drive
Chicago, IL  60601

Direct: 312.565.1234
Reservations: 888.421.1442
Room Rate: $239
Hotel Cut-Off: April 6 (or until sold out) 
Online Reservations > 

 

* All courses qualify for applicable NAGGL lender diploma program credit.


Link to the NEW Franchise Directory >


SOP 50 10 5(J) published with effective date of January 1, 2018

Notice 5000-17008, Issuance of SOP 50 10 5(J) >

SOP 50 10 5(J) >

Notice 5000-17009, Franchise Review Process >

SBA Form 2464 >


SBA issues new forms via Notice 5000-17007

Lenders can begin using the new Forms 1919 and 1920 as soon as they are available on sba.gov ... The use of these new Forms will be MANDATORY as of January 1, 2018. 

SBA Form 1919 >

SBA Form 1920 >

SBA Form 1971 >

SBA Form 2237 >

SBA Form 2449 >


FY 2018 Fees (includes chart) >


Calling all political junkies! Interested in better understanding the ins & outs of government relations as it relates to the 7(a) program? Want to know how to best communicate with your congressional representatives and the agency while getting involved with NAGGL leadership and learning about our PAC? Add an Individual Membership to your existing NAGGL membership. Get FAQ > 

JANUARY RATES

SBA LIBOR Base Rate =4.56%
History of SBA LIBOR base rate > 

Prime Rate = 4.50%

SBA FIXED Base Rate = 6.92%
Maximum allowable fixed rates >

SBA Optional Peg Rate = 2.38% [January 1-March 31, 2018]
[p. 127, SOP 50 10 5(I), "Base Rates will be rounded to two digits with .004 being rounded down and .005 being rounded up."]


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3/12/2018 » 3/15/2018
LONG BEACH - 7(a) Lender Classroom Training

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