January 19, 2018

REMINDER: Impact of federal government shutdown on SBA lending

3:50 PM (Central): 


With the possibility of a government shutdown after midnight tonight, SBA has asked us to remind lenders: if there is a shutdown, lenders will not be able to receive 7(a) loan numbers (so cannot approve loans under their delegated authority), or submit loans into an approval queue for SBA processing.


Lenders will be able to continue to take servicing and liquidations actions fully delegated to them; and SBA will designate essential personnel to handle those actions that are necessary to protect the interests of the government, but, routine actions requiring SBA’s approval cannot be processedIt is our understanding that SBA is waiting for more formal guidance regarding any shutdown.


Visit naggl.org homepage for updates!


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National Association of Government Guaranteed Lenders, Inc.
215 East 9th Avenue | Stillwater, OK 74074 | 405.377.4022 | info@naggl.org | www.naggl.org

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