SBA has release the updated 7.1 version of SOP 50 10 and announced that the new SOP will take effect on November 15. According to the SBA message transmitting the SOP, it should be available for download on SBA’s sometime today, but in the meantime can be downloaded it here >
We expect SBA to provide a notice to formally issuing the SOP, but in advance of that notice, the SBA transmittal message includes a “synopsis of some of the major updates”. Please see the NAGGL-created document for that synopsis.
SBA will discuss the SOP changes during its 7(a) Connect Quarterly Update being held at 3:00 PM ET. That session also will include information regarding SBA’s Risk Mitigation Framework (compliance check process). for the 7(a) Connect Quarterly Update.
Watch for information from NAGGL about the extended WEBExpress to be presented on October 30 where we will discuss the SOP 50 10 7.1 changes
