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Join NAGGL at its 35th Spring Conference in Orlando, FL. The conference tees off Tuesday, May 7 with the Scramble Golf tournament at 8:00 am followed by that evening's opening reception at 6:30 pm. Wednesday, May 8, starts bright and early with a General Session full of updates from NAGGL and our SBA guests followed by two full days packed with sessions covering current news. Register Online > 

SBA publishes SOP 50 10 5(K), effective April 1; Information Notice 5000-19004 summarizes changes

Today the agency published Information Notice 5000-19004 outlining the policy changes included in SOP 50 10 5(K) to be effective on April 1.  There are several important clarifications about core policies, including credit elsewhere, equity injection, changes of ownership, as well as adding new requirements for items like a borrower certification regarding leasing.  

NAGGL members will receive our summary analysis early next week. 

Join Jane Butler (NAGGL) for a specially-priced WEBExpress session on Friday, February 22 at Noon (Central). Register >


On December 21, President Trump signed into law H.R. 6347, the 7(a) Real Estate Harmonization Act. With no effective date specified in the bill, it is NAGGL’s belief that the law took effect immediately upon the president's signature. However, with SBA unavailable for guidance due to the partial government shutdown, it would be prudent for lenders to wait for further guidance from SBA before implementing.



Click here to view Job Bank positions  >


Prime Rate = 5.50%

Fixed Interest Rate Base = Prime [+ allowable spreads]

Federal Register Notice (11/2018) >
Maximum Allowable Fixed Rates >

SBA LIBOR Base Rate = 5.51%
History of SBA LIBOR base rate >

SBA Optional Peg Rate = 3.13% [January 1-March 31, 2019]
[p. 127, SOP 50 10 5(I), "Base Rates will be rounded to two digits with .004 being rounded down and .005 being rounded up."]

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WEBExpress: Using the 2018 Wizard to Write Authorizations

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