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SBA Hot Topic Tuesday — SBA Form 159 May Now be Submitted via SBA One

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May 10, 2016

By Bob Coleman
Editor, SBA Hot Topic Tuesday

SBA Hot Topic Tuesday — SBA Form 159 May Now be Submitted via SBA One

For Loans Originated in SBA One

1. After the loan is approved and the SBA Loan Number is issued and in Funded Status, SBA Form 159(7a) may be generated through the Documents menu on the loan level TAB 10 Supporting Docs (Other). The Form may also be via the Create New Document button on the loan level ten tab page.

2. SBA One generated/created Form 159s may be routed for electronic signature per SBA Procedural Notice 5000-1323 or printed for manual signing and subsequent document upload through the Documents menu on the loan level TAB 10 Supporting Docs (Other).

3. For manual signings, Lenders are required to retain an original signature version of the form in their files for compliance review purposes. SBA’s record retention requirements are the same for both wet ink and electronic signatures.

For Loans Not Originated in SBA One

1. Log into the Capital Access Financial Systems (CAFS) at https://caweb.sba.gov.

2. At the top right, select the “?” icon and follow the Instructions for SBA One Sign Up. Lenders must be approved with either a Loan Processor or Underwriter role to be able to submit SBA Form 159(7a).

3. Upon successful login to SBA One, select Create Documents on the Documents menu.

4. Select SBA Form 159(7a) and enter an approved ETRAN Loan number. A unique SBA One reference number will be assigned for document search purposes.

5. Follow the system prompts to enter the SBA Form 159(7a) details.

6. Forms generated in SBA One may be routed to the appropriate parties for electronic signature in SBA One or printed for manual signing and subsequent document upload through the Documents menu on the loan level TAB 10 Supporting Docs (Other).

7. Forms already completed and not previously submitted to the FTA may also be uploaded to SBA One following Steps 1 – 5.

8. For manual signings, Lenders are required to retain an original signature version of the form in their files for compliance review purposes. SBA’s record retention requirements are the same for both wet ink and electronic signatures.

This submission of SBA Form 159(7a) is only required once at the time of initial loan disbursement and should be submitted in conjunction with a Lender’s monthly 1502 report.

While Lenders are encouraged to submit the forms electronically using SBA One, Lenders may continue to either e-mail or fax the pdf/tif file to the FTA.

Read The Notice Here

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