November 10, 2017                                                          TIMELY. RELEVANT. NEWSWORTHY. 


Public comments sought by SBA -- Reducing Unnecessary Regulatory Burden - Due 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on August 15 a request seeking input from the public on "identifying which of the Agency’s regulations should be repealed, replaced or modified because they are obsolete, unnecessary, ineffective, or burdensome."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 from stakeholders. NOW is your chance to share your thoughts on specific regulations that you believe need adjusting.  

NAGGL has completed and submitted its comment letter, which can be reviewed here >

NAGGL has also created a 'fully support' letter that members can edit to make their own detailed comments here >

The site provides a helpful document that can guide you in producing an effective comment letter: Tips for Submitting Effective Comments >

We urge you to review the Federal Register notice and submit your comments by the November 15 deadline.  The Notice provides those interested in commenting with potential questions to consider when formulating your thoughts. See Code of Federal Regulations >

How to submit comments

**All responses to SBA's Request for Information must carry this identifier:  Docket Number SBA-2017-005**

The easiest way to submit your comments is through the Federal eRulemaking Portal >

Mail/Shipping:  Holly Turner, Regulatory Reform Officer, U.S. Small Business Administration, 409 Third Street SW., Washington, DC 20416

Version 14 of 7(a) Servicing and Liquidation Actions Matrix released >

A couple of the changes:

Footnote 9 altered to read "SBA required hazard insurance on all collateral (13 CFR 120.160). SBA considers it to be a prudent lending practice for lenders to maintain insurance on worthwhile collateral."

Adds item in Liquidation Actions -- requiring PRIOR SBA Approval: 
Continue liquidation actions for more than 24 months past date of guaranty purchase

along with the related Footnote 16: "Lenders must provide sufficient evidence of the resolution of all SBA purchased loans within either 24 months of purchase - unless SBA approves a written extension prior to the expiration of the applicable 24 month period. SBA reviews all extension requests on a case by case basis to evaluate the existence of extenuating circumstances that could warrant an extension, including judicial foreclosure and protracted bankruptcy proceedings. See SOP 50 57 2 Chapter 23. Paragraph F for additional guidance on the submission of extension requests."

Template: Request extension of 2-year Prudent Liquidation deadline >

Link to the NEW SBA Franchise Directory >

There are several major changes to the franchise process that become effective on 1/1/2018. The new Franchise Directory is just one.

 SBA has created an SBA Franchise Directory that will include all franchise and other brands reviewed by SBA and determined to be eligible for SBA financial assistance. The Directory will:

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

SBA Information Notice 5000-17008 (October 13, 2017) announces the issuance of the new SOP 50 10 5(J) whose policies become effective on January 1, 2018. The SOP contains several important updated 7(a) policy changes as outlined in that Notice. Among the most significant changes is a revision of procedures for applicants with franchise/license/dealer/jobber and similar agreements. A separate Notice 5000-17009 was published to provide specific details (see also pp. 90-97), which include the introduction of a Franchise Directory maintained by the agency and an Annual Franchisor Certification SBA Form 2464.

Notice 5000-17008 provides high-level accounting of the changes incorporated into the 5(J) ... More >

Send us your questions >

SBA announces new Express Bridge Loan Pilot Program to provide assistance in declared disaster areas

SBA is establishing a pilot program (through 9/30/2020) to provide expedited guaranteed bridge loan financing for "disaster-related purposes to small businesses located in communities impacted by a Presidentially-declared disaster, while those small businesses apply for and await long-term financing (including through SBA’s direct disaster loan program, if eligible)." Only lenders that held SBA Express lending authority as of the date of a particular disaster can participate. The Pilot uses SBA Express policies and procedures with some exceptions. More >

SBA Form 1919 >
SBA Form 1920 >
SBA Form 1971 >
SBA Form 2237 >
SBA Form 2449 >

PDF of FY 2018 fees chart >



New membership add-on available - Individual Membership
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! Voluntary enrollment is open to ANY interested existing NAGGL Member

 FAQ >

What are the additional benefits of an individual membership?

More, including application >

Register >

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: Explore SOP 50 10 5(J) Policy Changes SOLD OUT ...Wait list >
December 4-7 – Classroom Training Courses (Stuart, FL)
December 5 – WEBExpress: Get Acquainted with SBA 7(a) Lending
December 8 - WEBExpress: Close Calls: Appealing Guaranty Repairs & Denials (OPENS SOON!)


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 | |

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