SBA 7(a) Program Changes to the SOP 5010 Effective January 1st
When: Wednesday, December 18, 2013
2:00 p.m. to 3:15 p.m. Eastern
1:00 p.m. to 2:15 p.m. Central
12:00 p.m. to 1:15 p.m. Mountain
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On January 1 SBA’s new SOP 5010 (f) will implement a number of changes to lenders who participate in the SBA 7(a) lending program.
The changes are significant. SBA has issued procedures to lenders on how to manage, underwrite and document loans with the $350,000 figure as the threshold for different standards. There will be two different methods on how to manage, process, underwrite, fund, service an SBA 7(a) loan – based on loan size.
Join seasoned a seasoned pro Coleman webinar instructor, Lisa Gambrino, as she highlights all the changes and helps you craft a strategy for successful implementation of SBA’s guidance.
You will learn:
The significant SBA 7(a) loan program changes:
- Guidance on the eligibility of franchise, license, dealer, jobber or similar agreements
- How to obtain an affiliation determination
- Clarification is provided on fitness centers that target one gender (e.g. Curves)
- How franchisors may appeal the decision by SBA not to approve their agreement for inclusion on the Registry by following the procedures set out in the SOP
- How SBA views Businesses Engaged in Promoting Religion
- How to process a businesses with an Associate of Poor Character
- Changes to SBA Form 912
- The circumstances when a delegated lender may clear a SBA Forms 912
- Updated guidance is provided concerning the eligibility determination when a business may have an aspect of a prurient sexual nature
- The SOP clarifies the requirements for underwriting analysis based on the loan amount. Separate guidance is provided for loans up to and including $350,000 and loans over $350,000 up to and including $5,000,000.
- For all loans up to and including $350,000, lenders will follow SLA credit analysis requirements with refined guidance concerning debt service coverage and clarification concerning financial statement verification
- For loans over $350,000 up to and including $5,000,000, the SOP provides a definition of how SBA calculates business cash flow to determine repayment ability
- How to calculate cash flow – defined as earnings before interest, taxes, depreciation, amortization (EBITDA);
- What additions and subtractions to cash flow analysis are allowed
- How to calculate a minimum debt service coverage ratio of 1.15 to 1
- How to calculate “SBA considers a loan as “fully secured” if the lender has taken security interests in all available fixed assets with a combined “net book value” as adjusted below up to the loan amount.”
- What do to if there is a collateral shortfall
Appraisals and Business Valuations
- The circumstances when SBA requires an appraisal of real estate
- The circumstances when SBA requires an appraisal of fixed assets
- Who may conduct an appraisal for an SBA loan
- How life insurance requirements have been modified for loans over $350,000
- What forms are to be used for PLP loans
- What forms are to be used for GP loan
- What forms are to be used for SBAExpress loans
- Business financial statement date requirements
- Personal financial statement date requirements
- How to comply with the electronical submission mandates
Who should attend:
Commercial Loan Underwriters
SBA Loan Underwriters
Small Business Lending Department Managers
Credit Risk Managers
Chief Credit Officers
This webinar is rated “INTERMEDIATE” for all attendees.
Coleman’s Webinar level of instruction guide:
ELEMENTARY — The webinar assumes the audience has no experience in the topic.
BASIC — The webinar is for small business lenders who have some experience in the topic. The webinar is designed as the Topical 101 course. This is the appropriate level of instruction for managers who oversee the function.
INTERMEDIATE — The webinar solves an unique problem for the small business lending professional. A strong working knowledge of the subject matter is recommended.
EXPERT — The webinar discusses detailed, technical and advanced topics for the well-seasoned professional. A strong working knowledge of the subject matter is a must.
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Join Coleman’s Expert SBA Instructor:
Bob Coleman is the Author of “Money Money Everywhere and Not a Drop for Main Street“. Coleman is the Editor of the Coleman Report, a trade newsletter for small business bankers. He is the nationally recognized expert on small business financing. He has appeared on Fox Business News and CNN and has been quoted by all major financial media outlets including the Wall Street Journal, New York Times and Bloomberg. He has spoken at numerous small business banking events across the United States, including international engagements in the U.K. and Germany. Bob has a B.A. in Medieval History from the University of California Santa Barbara and a M.B.A. in Real Estate Finance from the University of Southern California.
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