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SAVE THE DATE! 

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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 nagglconference.com. Stay tuned ... registration opens soon!

Contact us for Sponsor/Exhibitor information > 


QUICK LINKS

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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 (sba.gov tool) >

List of active SBA lenders >        


RECENT PPP UPDATES

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(July 7 10:30 AM EDT) SBA Notice 5000-20035, Extension of Authority to Guarantee Paycheck Protection Program Loans, extends, through 8/8, the authority of PPP-only lenders to make loans under the program.


(July 6 11:30 AM EDT) SBA has provided additional data regarding PPP loan approvals, including data by lender, by state, by industry, etc., as well as individual loan data for loans over $150,000 (view/download data).  Information from SBA includes: press release, PPP loan results and explanation of released data.  


(July 6 10 AM EDT) SBA just officially announced that E-Tran is now accepting PPP loan applications as authorized by S. 4116 (enacted 7/3/2020) which extended the authority for PPP loan commitments from 6/30/2020 to 8/8/2020.


(July 4) President signs bill (S. 4116) to extend the Paycheck Protection Program to 8/8.


(July 1 8 PM EDT) The Hill passes bill to extend PPP to 8/8; now awaits President's signature. Read full release > 


(June 29  6 PM EDT) Urgent reminder:  E-Tran processing of PPP loans will end tomorrow night, Tuesday, June 30 at 11:59 PM EDT, regardless of the time zone in which a lender or borrower is physically located.  In order to meet that deadline, a PPP loan must be approved by SBA (i.e., entered into E-Tran AND an SBA loan number issued) prior to that cut-off.  


(June 29) SBA’s Office of Financial Assistance has rescheduled their 7(a) Connect Callon July 14 at 3 PM EDT.  Pre-registration is required >
(June 26 7 PM EDT) SBA and Treasury release additional guidance -  How to Calculate Loan Amounts > 
New question #10 on calculations for new self-employed individuals & revised questions 1, 2, 4, 5, 6, and 7 to reflect PPPFA

(June 25 7 PM EDT) SBA releases IFR #22 – Certain Eligible Payroll Costs (Fishing Boat Owners).   


(June 25 7 PM EDT) Treasury publishes FAQ #49 re: maturity date of PPP loan and revises FAQ #12 and #20 > 


(June 25) SBA/Treasury release updated versions of the PPP Borrower Application and PPP Lender Application.


(June 24 11:00 AM EDT) SBA releases IFR #21 – Additional Eligibility Revision to First Interim Final Rule removing additional eligibility restrictions for PPP applicants with criminal history.   


(June 23) NAGGL provides highlights of IFR #20 >


(June 22 10:00 PM EDT) SBA releases IFR #20 - Revisions to Loan Forgiveness and SBA Loan Review ProceduresMore information from NAGGL to follow. 

 

RECENT GR UPDATES

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(June 17) Tune in at 1 PM EDT today to the House Small Business Committee hearing on Paycheck Protection Program: Loan Forgiveness and Other Challenges.

Watch Live >
Read Eduardo Sosa's written testimony >

(June 5 11:30 AM EDT) NAGGL issues clarification on recent release re: H.R. 7010 - PPP Flexibility Act >

(June 4 10 AM EDT) Senate passes Paycheck Protection Program Flexibility Act of 2020; Bill awaits President's signature. Read Press Release > 

(May 20) Senate Passes Small Business Lending Continuity Act

(May 15) HEROES Act passes House

 

FY21 BUDGET UPDATES

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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 >

 

OTHER IMPORTANT UPDATES

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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  >

 

RATES

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JULY RATES

Prime Rate = 3.25%

Fixed Interest Rate Base = Prime [+ allowable spreads]

Maximum Allowable Fixed Rates >

SBA LIBOR** Base Rate = 3.17% 

**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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