SBA Just Released a Modernized (user friendly) Lender SOP!

On March 19th the SBA released a modernized Standard Operating Procuedures for lender and development company loan programs.

What does this mean?

-An improved relationship between the SBA and lenders and "enhanced delivery" of the SBA loan programs.

How has the SOP changed?

The SBA made substantial structural changes, cut the length from 1,000 pages to 400 and is more logically organized with many electronic links. However, the "SBA made only limited policy changes or clarifications in the document." According to their press release the "SBA will work with lenders and their representatives to incorporate further policy improvements in future iterations of SOP 50 10."

 Stay tuned to the SBA for more changes and developments!