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WATCH THIS SPACE:
Senate negotiations on Continuing Resolution to fund government through April ongoing; Potential for brief shutdown of SBA 

Although the House of Representatives passed a Continuing Resolution (CR) that would fund the federal government through April 28, 2017, the bill has not yet passed the Senate. Passage is stalled as some Senate Democrats demand funding an extension of healthcare benefits for coal miners that otherwise will expire in January. The House bill (HR 2028) includes a 4-month extension of the benefits, Senators Manchin and Brown want a 12-month extension.

Any change to the existing CR bill (meaning, should an agreement be reached to lengthen the extension of coal miner healthcare benefits beyond 4 months) would require altering the bill's language -- and a return to the House of Representatives for a vote. The issue there is that House Members have already left DC for the holidays and would have to return to pass altered legislation.  

Because it is unclear when the final FY 2017 CR may be passed, federal agencies, including the SBA, must prepare their systems for a shutdown when current funding expires at Midnight tonight (December 9). Should there be a shutdown, NAGGL does not expect it to be for an extended period of time. We are watching carefully the progress of Senate negotiations and will publish regular updates on the naggl.org homepage and Twitter feed -- our handle is @naggl7a

 


President-elect Trump to nominate Linda McMahon to serve as SBA Administrator

President-elect Donald Trump plans to nominate professional wrestling magnate and former Senate candidate Linda McMahon as his choice to head the Small Business Administration, transition officials told Reuters on Wednesday.

The announcement was expected later on Wednesday.

McMahon, 68, is a co-founder and former CEO of the professional wrestling franchise WWE, which is based in Stamford, Connecticut. She ran unsuccessfully for a U.S. Senate seat in Connecticut in 2010. She was an early supporter of Trump's presidential campaign.
More >

How Linda McMahon Will Wrestle With the SBA >


December 1, 2016 - NAGGL News Video Update


SBA 'Reviewer in Charge' jobs open until December 16
Financial Analyst, GS-0501-14 jobs available in Washington, DC and Kansas City, MO

Get details about these job openings >


SBA Announces Issuance of SOP 50 10 5(I)

SBA Notice 5000-1399 announces the issuance of SOP 50 10 5(I). According to the Notice, the primary changes in the new SOP are related to the procedures used to determine “size eligibility based on affiliation for franchised businesses”. The SOP also includes previously implemented statutory changes made in July 2015 related to compliance with the credit elsewhere test and fee relief for some loans made to eligible veteran-owned small businesses. The changes apply to both the 7(a) and 504 programs. The new SOP will take effect on January 1, 2017.  See yesterday's News Flash for details. .  (Don't miss our December 14 or 15 WEBExpress on the new procedures, along with the new 912 processing details.)


Calling ALL Members: NAGGL Committees Need YOU
Want to be more involved with your association? Serving on a committee is one of the most critical ways to participate. Committees play a vital role, giving members an open channel of communications with their fellow industry experts, NAGGL and the SBA. Committees normally meet quarterly by teleconference, and face-to-face at conferences. Annual terms run for the calendar year, and in most cases are limited to 3 consecutive years. The selection process for 2017 committee members is starting and we need YOU!

Get Involved. We need you! Send your complete contact information, indicating which committee you wish to serve on, and include details of your SBA lending experience by December 12, 2016.  Available committees >


     

SBA Lender Leadership Summit

February 15 & 16, 2017
New Orleans, LA

 

Fee: $895 [Members-only event]

Registration Limit: 75 participants
Limited to lending institutions only!

 

Registration Opens December 15, 2016!      

 

Location
Hyatt Regency French Quarter
800 Iberville Street
New Orleans, LA  70112

Direct: 407.284.1234
Reservations: 888.421.1442
Room Rate: Single/Double: $215 + 13% tax
Hotel Cut-off: January 20
Online Reservations >


Open Jobs >

SBA Credit Underwriter (FL) 

SBA Quality Control Associate (FL)

Post-Closing Loan Documentation Specialist (FL) 

Senior Underwriter / Team Leader (Hartford, CT)



SAVE THE DATE … The preliminary schedule of courses to be offered March 20-23 in Los Angeles, CA is available. Registration opens in early January and we anticipate high enrollment for this event, so please register early.

 

March 20-21 – Understanding the SOP 50 10
March 20-21 – SBA Loan Servicing and Liquidation
March 20-21 – Advanced SOP 50 10 Training
March 20-21 – Advanced SBA Loan Documentation and Closing
March 22 – How to Get SBA to Honor Its Guaranty
March 22-23 – Fundamentals of SBA Credit Underwriting
March 22-23 – Closing and Funding the SBA Loan
March 22-23 – Advanced SBA Loan Servicing and Liquidation
March 23 – Advanced Cash Flow Analysis


DECEMBER RATES

SBA LIBOR Base Rate = 3.63%
SBA Optional Peg Rate = 1.75% (Oct.-Dec.)
Prime Rate = 3.50%
SBA FIXED Base Rate = 5.71% 
Maximum allowable fixed rates > 


 

NAGGL, SBA Launch "Business Smart Toolkit" to Elevate Entrepreneurship in Underserved Communities

NAGGL and the SBA are proud to announce the release of the Business Smart Toolkit, a ready-to-use workshop toolkit that equips and empowers faith based and community organizations to lay the groundwork for helping new and aspiring entrepreneurs launch a business idea and build a business that is credit ready. www.sba.gov/BusinessSmart >

Helpful Links for Navigating the New naggl.org
Changing Your Password | Accessing the Members-Only Directory | Registering Online for an Event | Adding/Deleting Individuals (MOR's only)  | Managing your Company Profile (MOR's only) | Adding Categories for the Service Provider Search (Associate Members only) | PRINT Your Event Receipt



NAGGL, SBA Launch "Business Smart Toolkit" To Elevate Entrepreneurship In Underserved Communities Last September, NAGGL and SBA released the Business Smart Toolkit, a ready-to-use workshop toolkit that equips faith-based and community organizations to help new and aspiring entrepreneurs launch and build businesses that are credit ready. In recognition of Black History Month and NAGGL's announcement of its place on the National Urban League's Urban Solutions Council, we'veresurfaced the release on the Toolkit >  



NAGGL, SBA Launch "Business Smart Toolkit" To Elevate Entrepreneurship In Underserved Communities Last September, NAGGL and SBA released the Business Smart Toolkit, a ready-to-use workshop toolkit that equips faith-based and community organizations to help new and aspiring entrepreneurs launch and build businesses that are credit ready. In recognition of Black History Month and NAGGL's announcement of its place on the National Urban League's Urban Solutions Council, we'veresurfaced the release on the Toolkit >  

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