UPDATE (4/7/2023)
The Affiliation Final Rule has been published to the Federal Register Public Inspection Desk and will be officially published in the Federal Register on 4/10/2023.
In its reminder of the upcoming 7(a) Connect call (Tuesday, April 11, 2023 at 3:00 – 4:30 PM ET), SBA advised that it will walk through the changes being made in the Final Rule on Affiliation and Lending Criteria for the SBA Business Loan Programs(Affiliation Final Rule). That rule is expected to be published in the Federal Register within the next few days, with an effective date 30 days after the date of publication.
Click on this link to join the webinar. Anyone unable to join the call will be able to hear a recording after the session is completed by clicking on this link.
As a reminder, as announced by SBA, in addition to the major changes being made to the affiliation requirements that apply to SBA’s loan programs, this rule also will include changes to SBA’s requirements relating to underwriting, hazard insurance, change of ownership financing and loan action reconsiderations. NAGGL is monitoring the Federal Register and will provide a link to the Affiliation Final Rule as soon as it is posted. [Proposed changes to the SBLC program and to the requirements relating to the 7(a) loan authorization are contained in a separate Proposed Rule.]
