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(March 31 @ 3:30 PM EDT)  SBA releases information and sample PPP borrower application 

Sample borrower application form >


(March 31 @ 3 PM EDT) Treasury releases Information AND Borrower Application for PPP loans on their website >

Top-line overview of the program >

More information for lenders > 

More information for borrowers >

The application for borrowers >


Handling Payments Due Now on Existing 7(a) Loans

Many NAGGL members have requested guidance regarding how they should handle payments on existing 7(a) loan that would be due now or will come due in the very near future.  As lenders are well aware, we are waiting for guidance regarding the implementation of Section 1112 of the CARES Act.  That section authorizes the government to make six months of complete loan payments on SBA-backed loans.  Although we have NOT received any guidance on this point, because of the uncertainty regarding how this program will be implemented on a practical basis, NAGGL suggests that lenders may want to consider postponing collecting payments that would otherwise be due beginning April 1 up to the date that SBA issues guidance regarding the implementation of this initiative.  Once the SBA guidance is received, lenders will be in a better position to determine how to proceed in a way that will be most beneficial to borrower, and less burdensome on lenders.

(March 31) SBA ramping up temporary staffing, seeking to fill several loan origination, servicing & and purchase openings >


(March 30) SBA Procedural Notice 5000-20012

Deferments for SBA-Serviced Loans (Disaster Home and Business Loans and SBA-Purchased 504 Debentures) Adversely Affected by the Coronavirus (COVID-19) Emergency

(March 29 @ 9:00 PM EDT) UPDATE FROM NAGGL CEO: Comprehensive Summary of CARES Act

Passage of the CARES Act repeals the Interim Final Rule, effective March 27. Affiliation standards revert back to prior standards outlined in the Federal Register Notice on June 27, 2016

NAGGL understands that you have many questions about the CARES Act's provisions related to the SBA loan programs; please be patient.  Answers will be available once SBA + Treasury publish written interpretation of and guidance on the statute. 


NOTE:  NAGGL is aware that the IRS has temporarily suspended acceptance of new tax transcript requests (4506-T forms) while it adjusts to the impact that state and local shelter-in-place orders are having on the agency’s ability to provide tax data. We expect that SBA will provide more information and guidance.  




(March 27) SBA publishes Notice 5000-20011Guidance Regarding No Adverse Change Certifications on 7(a) Loans during the COVID-19 Emergency




(March 25) SBA Procedural Notice 5000-20009, Guidance on Acceptable Signatures for Applications and Loan Documents in the 7(a) and 504 Business Loan Programs View >


(March 31) SBA publishes Federal Register Notice on Express Bridge Loan Pilot Program

(March 25) SBA publishes Express Bridge Loan Pilot Program Guide >

Deferments on Sold Loans; 1502 Reporting

Colson Services provides streamlined process to request approval for deferments up to 12 months. Details in these guidelines >

SBA's March 19 SBA 7(a) Connect presentation (recording available until April 3) >

SBA Inspector General publishes audit on SBA's Community Advantage Pilot Program 

Full audit >


Register Now >

The rippling effects of the COVID-19 pandemic are devastating small businesses across the United States. Now more than ever, credible training and industry dialog need to occur. Therefore, we have decided to replace the in-person NAGGL Spring Conference that was scheduled for Atlanta with a fully virtual conference that will be held May 6-8. This creates a safe environment in which to gather, while allowing us to share critically important content and conversations with a broader audience of lenders from coast to coast. Attendees will have access to over a dozen LIVE sessions and interactive discussions led by industry leaders and invited SBA policymakers on topics that address how to best help your borrowers along the road to recovery and manage your portfolio. 

If you are already registered for our conference, there is no additional action you need to take at this time.

Virtual Conference FAQ >Administrative Cancelation/Refund Policy >  

SBA Provides Notice on Interim Final Rule - Express Loan Programs; Affiliation Standards

Information Notice 5000-20003, Publication of Interim Final Rule – Express Loan Programs; Affiliation Standards, dated March 11, 2020, provides a brief summary of the regulatory changes contained in the Interim Final Rule.  Most of the provisions of the Interim Final Rule are effective March 11, 2020, and comments on the regulations are due to SBA by April 10, 2020. NAGGL recently published a Newsflash FAQ that includes questions on the Interim Rule submitted by NAGGL members and NAGGL’s responses to those questions. 

Notice 5000-003 (published March 11) >

Interim Final Rule (published February 10) >

Affiliation review guidance document >

NAGGL articles >

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 = 4.75%

Fixed Interest Rate Base = Prime [+ allowable spreads]

Maximum Allowable Fixed Rates >

SBA LIBOR** Base Rate = 4.36%

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

SBA Optional Peg Rate = 1.88%  [January 1-March 31, 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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