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QUICK LINKS

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NAGGL PPP Archive >                

 

SBA Resources by State (including lenders)  > 

Find eligible lenders (sba.gov tool) >

Chart of PPP Interim Final Rules >            

 Timeline of PPP Guidance >                                                      

List of active SBA lenders >                                

 

 

RECENT PPP UPDATES

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( May 28 2 PM EDT) SBA and Treasury Department Announce $10 Billion for CDFIs to Participate in the Paycheck Protection Program >

(May 26) PPP Update from SBA

SBA and Treasury want to remind the PPP lending community of the following items:

  • SBA sent the attached message from Bill Manger to all PPP lenders via the CLS secure messaging service this afternoon. As a reminder, the Authorizing Official (AO) at your financial institution receives the CLS messages. The message was a reminder to resolve any loans that are marked as research in your PPP loan portfolio if you have not already done so.
  • SBA wants to call attention to the attached 1502 Procedural Notice released last week. The Procedural Notice explains the 1502 reporting process and the procedure that PPP Lenders will use for SBA payment of the processing fee to Lenders.

(May 22 10:45 PM EDT) SBA/Treasury releases two Interim Final Rules

IFR on Loan Forgiveness >

IFR on Loan Review Procedures and Related Borrower Responsibilities >

 

(May 21 11:30 AM EDT) SBA releases Procedural Notice on Lender Processing Fee Payment and 1502 Reporting Process >
The purpose of this Notice is to inform Paycheck Protection Program (PPP) Lenders of the reporting process through which PPP Lenders will report on PPP loans and collect the processing fee on fully disbursed loans which they are eligible to receive.

 

(May 20 9:00 PM EDT) SBA/Treasury release IFR # 13 - Second Extension of Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan and Lender Reporting >

(May 19 6:30 PM EDT) Treasury FAQ # 48 extends deadline for lenders to upload initial 1502 reporting information

(May 15 7:30 PM EDT) SBA / Treasury release PPP Loan Forgiveness Application (Form 3508)

11-page application >

SBA Press Release >

 

 

RECENT GR UPDATES

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(May 20) Senate Passes Small Business Lending Continuity Act

(May 15) HEROES Act passes House

 

 

Lender Assistance Hotline: (833) 572-0502
SBA PPP site >

(May 18 10 AM EDT)
Interim Final Rule # 12: Treatment of Entities with Foreign Affiliates

(May 14) Interim Final Rule #11: Eligibility of Certain Electric Cooperatives

(May 13 5:00 PM EDT) 
Interim Final Rule #10:Business Loan Program Temporary Changes; Paycheck Protection Program – Loan Increases

(May 10) SBA publishes IFR - Extension of Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan Request

 


FAQ on Faith-ed Organizations

Department of the Treasury PPP site >

(May 19 6:30 PM EDT) Treasury publishes 1 new FAQ - extends deadline to submit initial 1502 report >

(May 13 9 PM EDT) Treasury publishes 1 new FAQ >
Q#47

(May 13 12 PM EDT) Treasury publishes 1 new FAQ >

 

NOTE: The link to treasury.gov FAQ is always the latest version, but with no clear indication of changed content. NAGGL suggests that lenders download, date and preserve all versions of the FAQ as they are released. 

 

 

 

 

 

 

 

 

(April 16 6:15 pm EDT) Implementation of Section 1112 of the CARES Act, Subsidy for Certain Loan Payments for the 7(a) and 504 Loan Program

The notice contains guidance regarding SBA’s payment to lenders and CDCs of 6 months of principal, interest and “associated fees” for borrower with “covered loans” in “regular servicing status” (including loans currently on deferment), as defined in the notice.  

***UPDATED April 17, 6:15 pm EDT   Procedural Notice released:  5000-20020 ***-- updated to add a paragraph for revolving lines of credit and clarify the 504 borrower fees paid.  

Section 1112 Gross Loan Payment Amounts - Blank Template - MANDATORY Format >

 

 


 


The Administration’s budget proposal again estimates a positive subsidy for the 7(a) program in FY2021 to the tune of $15 million. Read NAGGL's in-depth analysis of the Administration’s budget proposals – and please remember that the final federal budget crafted by the Congress will likely look very different. 

The Committee on Small Business held a hearing on February 26 titled, A Discussion with SBA Administrator Jovita Carranza: Current Issues and the FY2021 Budget, .  Watch the recording >



NAGGL's Secondary Market Committee provided an updated Standardized Secondary Market Bid Sheet (supplied as-is with no implied endorsement) >


Click here to view Job Bank positions  >



MAY RATES

Prime Rate = 3.25%

Fixed Interest Rate Base = Prime [+ allowable spreads]

Maximum Allowable Fixed Rates >

SBA LIBOR** Base Rate = 3.30% 

**REMINDERLIBOR will soon be sunsetted
History of SBA LIBOR base rate >

SBA Optional Peg Rate = 1.88%  [April 1-June 30, 2020]
[SOP 50 10 5, "Base Rates will be rounded to two digits with .004 being rounded down and .005 being rounded up."]
 


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