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For the health and safety of our attendees, NAGGL has proactively decided to host the 2020 Annual Conference virtually on Tuesday, October 27 - Thursday October 29

This virtual event will replace our in-person conference originally scheduled for November 2 - 4 at the Cosmopolitan in Las Vegas, Nevada.

We'll continue to update you on the latest registration information, schedule of events and more at


Contact us for Sponsor/Exhibitor information > 



SBA PPP site >

NAGGL PPP Archive >

Chart of PPP Interim Final Rules >

Department of the Treasury PPP site > 

SBA Resources by State (including lenders)  >

Timeline of PPP Guidance >     

Lender Assistance Hotline:  (833) 572-0502 

Find eligible lenders ( tool) >

List of active SBA lenders >        



(September 20) As a reminder … effective March 27, 2020 the CARES Act (Section 1102) permanently rescinded SBA’s Interim Final Rule (IFR) titled Express Loan Program, Affiliation Standards which had been published in the Federal Register on February 10 and had taken effect on March 11. The effect of this recission was to return the SBA regulations that had been amended, including those relating to affiliation, credit elsewhere/personal resources, agents, fees, etc. to their pre-March 11 status.

Since that time except for the IFRs relating to Paycheck Protection Program (PPP) loans, NO changes have been made to the regulations governing the 7(a) loan program, and no regulatory proposals related to the program have been published. The only changes that have been made to regular 7(a) program policy are the temporary increase (through December 31, 2020) in the maximum size of an SBA Express loan that also was mandated by the Cares Act [SBA Notice 5000-20025 (effective May 7)], and the policy changes that are included in SOP 50 10 6 which will take effect on October 1. It is our understanding that SBA will be publishing in the Federal Register official notice of the regulatory rescission, but even without such notice, the statutory mandate takes precedence and prohibits SBA from enforcing the rescinded regulatory changes.

(August 28 3:00 PM EDT)  SBA releases version 6 of the SOP 50 10 on their website with an effective date of October 1, 2020. SBA Notice 5000-20043, Issuance of SOP 50 10 6 (effective August 28), provides a high level summary of some of the “particularly significant procedural updates”. Please stay tuned for more information from NAGGL. View on SBA's website > 

(August 10) SBA releases Procedural Notice 5000-20042,  Guidance on Underwriting 7(a) Loans during the COVID-19 Pandemic and Miscellaneous Related Matters  (effective 8/7/2020). The notice provides guidance, which will remain in effect until 12/31/2020, regarding the additional credit factors that lenders will be required to consider when analyzing an applicant’s ability to repay a 7(a) loan. It also discusses other relevant issues related to processing 7(a) loans and SBA Express loans during the COVID-19 emergency.

Read NAGGL’s Brief Summary >





(August 26 7:00 AM EDT)  SBA’s systems’ i6 sue which had impacted CAFS and ETRAN has been resolved.  The PPP Loan Forgiveness Platform which was not impacted, remains available.

(August 26 6:00 PM EDT) Due to unforeseen circumstances the Ask the Regulators session titled, “Basics of PPP Loan Forgiveness and the SBA PPP Loan Forgiveness Platform” has been rescheduled to Thursday, September 3, 2020 at 3:00 p.m ET.

(August 25 2:30 PM EDT) SBA is reporting that all Agency systems, including CAFS and ETAN, are down temporarily. The Forgiveness platform is accessible. NAGGL will notify members when we hear that service has been restored. 

(August 24 5 PM EDT) – IFR #24, Treatment of Owners and Forgiveness of Certain Nonpayroll Costs, provides additional information regarding PPP loan forgiveness requirements related to:  (1) owner-employees with less than a 5% ownership stake in a C- or S- Corporation; and, (2) treatment of non-payroll costs, including amounts attributable to the business operations of a tenant or sub-tenant of the PPP borrower, and rent payments made to a related 3rd party.

(August 21)  The Federal regulators and the Conference of State Bank Supervisors will host a joint webinar on Paycheck Protection Program (PPP) loan forgiveness, Thursday, August 27, 2020, at 11:00 a.m. EDT. The webinar is open to all PPP lenders.  Read the announcement for the session, and register to participate here.  [Each institution is asked to register no more than 2 representatives for the session, but the materials will be archived for future viewing.] 

(August 11 9 PM EDT) – New guidance and information issued by Treasury/SBA:

  • IFR #23, Appeals of SBA Loan Review Decisions Under the PPP, informing PPP borrowers and lenders of the process for a PPP borrower to appeal SBA PPP loan review decisions to SBA’s Office of Hearings and Appeals.

  • FAQ #s 50 & 51 re: payment or nonpayment of fees to agents or other third parties having no impact on SBA guarantee or payment of fee by SBA to lender; and inclusion of vision and dental and benefits as part of group health care benefits.

  • Forgiveness FAQ – new section including 3 questions relating to Economic Injury Disaster Loans.

  • PPP loan approval data through 8/8 showing a total of 5,212,128 PPP loan approvals totaling $525,012,201,124 (net) made by 5,460 lenders.  Additional detailed data included in the report (view/download data).

(August 4) SBA releases a new separate FAQ document, Frequently Asked Questions (FAQs) on PPP Loan Forgiveness. The 10-page document divides the questions by topic: General Loan Forgiveness (3 FAQs); Loan Forgiveness Payroll Costs (8 FAQs); Loan Forgiveness Nonpayroll Costs (7 FAQs); and, Loan Forgiveness Reductions (5 FAQs).

(July 29) SBA releases Procedural Notice 5000-20041: Further Guidance on the Implementation of Section 1112 of the CARES Act,Subsidy for Certain Loan Payments, for the 7(a)Loan Program >

Read NAGGL's Brief Summary > 

(July 23) SBA releases Procedural Notice 5000-20038: Procedures for Lender Submission of Paycheck Protection Program Loan Forgiveness Decisions to SBA and SBA Forgiveness Loan Reviews >

Read NAGGL's Brief Summary >





(September 18) Please note two upcoming hearings:

Thursday, September 24 at 10:00 AM  ET- Innovation and Workforce Development Subcommittee: “Paycheck Protection Program: An Examination of Loan Forgiveness, SBA Legacy Systems, and Inaccurate Data.” This hearing will focus on issues around the accuracy of the recently released PPP data, as well as SBA’s new system for PPP forgiveness. William Manger, SBA's Chief of Staff / Associate Administrator of the Office of Capital Access will be the only witness testifying. 

Watch the Livestream >

Friday, September 25 at 9:30 AM ET - Capital Access Subcommittee: “A Review of PPP Forgiveness.” NAGGL's former chairwoman, Lynn Ozer will be testifying along with three other witnesses. 

Watch the Livestream > 


(September 10) NAGGL Sends Coalition Letter The Hill > 

(August  26) NAGGL Update on Fourth Package >

(July 27 7 PM EDT) NAGGL Update on Fourth Package Negotiations >

(July 16) Tune in on Friday, 7/17 at 10:30 AM EDT for the House Small Business Committee hearing on Oversight of the Small Business Administration and Department of Treasury Pandemic ProgramsRewatch >




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  >





Prime Rate = 3.25%

Fixed Interest Rate Base = Prime [+ allowable spreads]

Maximum Allowable Fixed Rates >

SBA LIBOR** Base Rate = 3.16% 

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

SBA Optional Peg Rate = 0.88%  [July 1-September 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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