SBA recently posted version 16 of the Matrix to its website. The new Matrix takes effect on December 1, 2024, to coincide with the effective date of the recently issued version 3.1 of SOP 50 57, 7(a) Servicing and Liquidation. The Matrix has been updated to reflect all of the changes to 7(a) Program Requirements made since the last revision dated April 25, 2019. While the material provided is similar to what was included in previous version of the Matrix, the document has a different, more streamlined, look with two columns showing the actions that lenders can take unilaterally (including when E-Tran is used to communicate the change), and the actions that require SBA’s prior approval. Other additional helpful information, including extensive footnotes, also have been updated.
NAGGL will offer a briefing on the changes in both the SOP and the Matrix on Thursday, November 14 at 1 PM ET. Click her to register for that extended 2-hour WEBExpress session.
