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GAO releases report - Additional Actions Needed to Improve Compliance with the Credit Elsewhere Requirement

Highlights page >

Full report >


(6/5/2018, 6:39 pm Eastern)

Senate passes 7(a) lending oversight and reform bill

Moments ago the Senate passed H.R. 4743, the Small Business 7(a) Lending Oversight Reform Act of 2018, which follows the passage of the same bill on May 8 in the House of Representatives. [NAGGL May 8 statement on House passage of H.R 4743 >]

The bill’s passage comes after three years of congressional focus on the 7(a) loan program to further examine how SBA can best manage programmatic oversight as the 7(a) program continues to grow, having reached over 62,000 small businesses with $24.5 billion in loans in FY 2017.

“On behalf of NAGGL, the 7(a) lending industry, and the hundreds of thousands of small business borrowers across the country that have been helped by the 7(a) program, I am grateful to Chairman Risch, Senator Shaheen, and the members of the Senate Committee on Small Business & Entrepreneurship for their leadership in passing H.R. 4743 through the Senate,” Tony Wilkinson, NAGGL President & CEO, said in a statement. “This bill will modernize outdated statute, empower SBA with flexibility to manage the program’s authorized lending cap, and provide the agency with the necessary resources to effectively and efficiently manage a growing portfolio of loans. But undoubtedly, the most important outcome of this bill will be that it ensures that the 7(a) program continues to be available for small business borrowers, especially those most vulnerable when it comes to accessing capital in today’s lending climate. It is common sense that a congressionally-authorized program must be able to withstand congressional scrutiny in the midst of continued growth.”
 
The bill now heads to President Trump’s desk, where it must be signed into law. As always, NAGGL will keep you posted with the most relevant and informed updates as the bill continues its progress to becoming law. 

For a summary of the bill process and a section-by-section breakdown of what is included in the bill, click here >

Senate Small Business Committee releaseSenate Passes Bill to Protect Critical Small Business Loan Program


SBA publishes version 14 of Servicing & Liquidation Actions 7(a) Lender matrix

Although not yet available on sba.gov, version 14 dated May 1, 2018 of the 'Matrix' is available on the CAFS site here >

This PDF highlights most of the changes >

Clean version (CORRECT) > 


  

Annual Conference on Small Business
November 13-15 • San Diego, CA

Registration Fee:
BY OCTOBER 5: $1,095 Mbr, $1,595 N-Mbr, $675 Govt
AFTER OCTOBER 5: $1,350 Mbr, $2,050 N-Mbr, $675 Govt    

Registration OpensJune 27

Preliminary Conference Agenda >

LOCATION
Manchester Grand Hyatt
1 Market Place
San Diego, CA  92101

Direct: 619.232.1234
Reservations: 888.421.1442
Room Rate: $279
Hotel Cut-Off: October 19 (or until sold out)
Online Reservations >

 

 

 

 

 




Pre-Conference Training:
 
November 12-13

DATE  COURSE  FEE
 November 12
 Advanced Credit Analysis* (formerly Advanced Cash Flow Analysis)
 $495 Mbr, $895 N-Mbr, $345 Govt
 November 12-13

 Advanced SBA Loan Documentation and Closing*

 $755 Mbr, $1,155 N-Mbr, $525 Govt
 November 12-13
 Advanced SOP 50 10 Training*  $755 Mbr, $1,155 N-Mbr, $525 Govt
 November 12-13
 SBA Loan Servicing and Liquidation*
 $755 Mbr, $1,155 N-Mbr, $525 Govt
 November 12-13  Understanding the SOP 50 10*  $755 Mbr, $1,155 N-Mbr, $525 Govt
 November 13
 SBA Construction Lending
 $495 Mbr, $895 N-Mbr, $345 Govt

 
*Course qualifies for applicable NAGGL Diploma Program credit.


 

Appraisal threshold for SBA 7(a) loans remains at STATUTORY $250,000 or greater

Despite a final rule published April 9 by federal regulators, SBA lenders must continue to abide by the threshold set by STATUTE and as contained in the SOP 50 10 5(J), pages 194-196. See the News Flash (4/12/18) >


FY 2019 President's PROPOSED Budget 

Small Business Administration Budget Proposal >

More >

It is important to recall that this is a proposed budget that will be finalized by Congress. A couple of the key proposals:

$30 billion 7(a) authorization cap; • Increases maximum ongoing fee from 0.55% to 0.625%; • Sets the ongoing fee at 0.55% for loans less than $1 million and at 0.625% for loans $1 million or more; • Eliminates all borrower fee waivers not required by law (e.g., veterans SBA Express); • Increases the upfront (borrower) guaranty fee on loans $1 million or greater; • Introduces a secondary market fee up to 0.05% per year of outstanding balance of loans sold; • Increases SBA Express limit to $1 million

Stay Tuned & Stay Engaged -- there is a LONG road of analysis and discussion ahead before anything in the proposed budget becomes a reality. NAGGL has already begun discussions with The Hill on the FY 2019 budget. NAGGL, as always, is on top of it and remains your source for credible information!

SOP 50 10 5(J) - Tracked changes >  |  SOP 50 10 5(J) - Highlighted >

SOP 50 10 5(J) - WATERMARKED Technical Corrections version -- to help you keep it straight!


Link to the NEW Franchise Directory >


FY 2018 Fees (includes chart) >


 

Click here to view Job Bank positions  >

Cerritos, CA

Irvine, CA

Stillwater, MN



Calling all political junkies! Interested in better understanding the ins & outs of government relations as it relates to the 7(a) program? Want to know how to best communicate with your congressional representatives and the agency while getting involved with NAGGL leadership and learning about our PAC? Add an Individual Membership to your existing NAGGL membership. Get FAQ > 

JUNE RATES

SBA LIBOR Base Rate = 5.00%
History of SBA LIBOR base rate > 

Prime Rate =4.75%

SBA FIXED Base Rate = 7.92%
Maximum allowable fixed rates >

SBA Optional Peg Rate = 2.63% [April 1-June 30, 2018]
[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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7/31/2018 » 8/1/2018
Washington DC Area - Advanced SOP 50 10 Training

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