As the shutdown reaches Day 8, NAGGL wanted to quickly touch base with its members. There is still no path forward to reopen the federal government as both sides remain at an impasse over the same set of issues. Just this afternoon, the Senate once again voted on the House-passed Continuing Resolution (CR) and the Democratic-counter CR and, once again, both failed to move forward. We will keep you posted on any relevant developments.
Meanwhile, NAGGL has received several inquiries from lenders on whether certain functions remain open at SBA. Here’s the rundown on what is and is not available during the shutdown:
- E-Tran closed for new loan approvals BUT lenders can continue to process loans up to the point of submission to SBA
- NO loan increases
- NO reinstatements of cancelled loans
- NO new secondary market transactions
- E-Tran open for servicing actions (except increases and reinstatements)
- SBA assistance available for servicing and liquidation actions that are critical to protecting the government’s interests
- OCRM lender portal open and LLMS contract continuing during shutdown
- FTA contract is continuing during shutdown
- Disaster employees are not affected by shutdown – so, actions such as EIDL subordinations are available
- Verification of non-citizen status NOT available
- IRS verification NOT available
The most important thing to remember is that SBA staff is prohibited from taking any actions or responding to any questions that are not essential to protect the government’s interests.
As we have said before, please continue to reach out to NAGGL if you have any questions or issues with SBA procedures during the shutdown so that we can help you address those concerns. We stand at the ready to be of any assistance to you and your borrowers.
