October 13, 2017                                                     TIMELY. RELEVANT. NEWSWORTHY. 

Dear NAGGL Members:

Earlier today, through various media outlets, we learned that the FBI had entered the Indianapolis facilities of banc-serv.  From the news stories, “the FBI confirms there is ‘investigative activity in the area related to an ongoing investigation’”.  

All we know is that the FBI is seeking information or documents of interest.  We do not know if that search is related to banc-serv or to one of the  institutions they serve. I respectfully request that NAGGL members not participate in unwarranted gossip. As soon as the association has credible information, we will share it with you.

As always, NAGGL expects each of our members to act in a professionally responsible way.  Program integrity is of utmost importance for us as an industry, and especially for the small businesses that depend on us to provide them access to long-term capital.

Thank you.

Tony Wilkinson
President & CEO


Hurricane Response Jobs

PLEASE share far & wide with friends and colleagues who may be interested.SBA is an Equal Employment Opportunity Employer

Hurricane response jobs >

SBA issues Notice 5000-17007, Lenders Updated 7(a) Loan Program Forms
SBA has updated not only the SBA Form 1919 (Borrower Information Form) and SBA Form 1920 (Lender's Application for Loan Guaranty), and also the SBA Form 1971 (Religious Eligibility Worksheet), SBA Form 2449 (Community Advantage Addendum) and SBA Form 2237 (7(a) Loan Post Approval Checklist).  It is important to note that going forward, the information collected on SBA Form 2237 will ONLY be collected electronically through E-Tran or SBA One, NOT in paper form.  The Notice outlines the other changes to the forms.  Watch naggl.org homepage for notification of publication of new forms, new SOPs, etc.

Public comments sought: Reducing Unnecessary Regulatory Burden - COMMENT PERIOD EXTENDED to November 15
The SBA published in the Federal Register on August 15 a request seeking input from the public on "identifying which of the Agency’s regulations should be repealed, replaced or modified because they are obsolete, unnecessary, ineffective, or burdensome."  The purpose is to gather information.  The Federal Register notice provides instructions for submitting comments, as well as potential questions to consider when formulating your thoughts.  See CFR >   

:  The Federal Register to be published on October 13 will contain notice that the comment period has been extended to November 15. Watch naggl.org homepage for our comment letter!

Office of the Inspector General issues Report 17-18, High Risk 7(a) Loan Review Program

"The Office of Inspector General’s (OIG’s) review of five early-defaulted loans identified material lender origination and closing deficiencies that justified denial of the guaranty for one loan totaling $917,107.  We also identified suspicious activity on two purchased loans totaling $1.9 million, resulting in formal referrals to our Investigations Division."

OIG reviewed 5 early-defaulted loans on which SBA honored the guarantees for a total purchase amount of $5.2 million. "We identified material lender origination and closing deficiencies in one of the five loans. Specifically,the lender did not (1) verify the source of the required $675,000 equity injection, (2) perform an adequate credit elsewhere determination, and (3) perform appropriate due diligence on the collateral available to secure the loan." More > 


October 30-November 1 – Annual Conference on Small Business Lending (Colorado Springs, CO) SOLD OUT 
November 2-3 – Classroom Training Courses (Colorado Springs, CO)  Few spots in select courses
November 9
WEBExpress: Overview of the SOP 50 10 5(J) [special member price]
  ALSO offered on November 20
November 14-15 – ONLINE Course: SBA 1502 Reporting
November 14-16 – Classroom Training Courses (Portland, ME)
November 16-17 – Advanced SOP 50 10 Training (Atlanta, GA)
November 20 – WEBExpress: Overview of the SOP 50 10 5(J) [special member price]   REPEAT of 11/9 session
December 4-7 – Classroom Training Courses (Stuart, FL)
December 5 – WEBExpress: Get Acquainted with SBA 7(a) Lending


February 22-23 – SBA Lender Leadership Summit (Austin, TX)
March 12-15 – Classroom Training Courses (Long Beach, CA)
April 30-May 3 – Classroom Training Courses & Technical Conference (Chicago, IL)

 National Association of Government Guaranteed Lenders, Inc.    215 East 9th Avenue | Stillwater, OK 74074 | 405.377.4022 | info@naggl.org | www.naggl.org
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