stickyimage

What SBA Lenders Need to Know About the New SOP 50 10 5(J) Effective Jan 1

What SBA Lenders Need to Know About the New SOP 50 10 5(J) Effective Jan 1
Learn all about the Changes in the Newly Released SBA SOP 5010 (J) Effective January 1, 2018. This 75-minute webinar lets your SBA lenders earn e-certification.

A Coleman Webinar
Date: Tuesday, October 24, 2017
Time: 2:00 p.m. Eastern

Go to Registration and Payment | Download a Registration Form

This rewrite of SBA’s Standard Operating Procedure includes changes to SBA’s 7(a) and 504 lending programs effective January 1.

Coleman webinar instructor and former SBA Deputy Director of the Little Rock Commercial Loan Center, Lance Sexton will walk you through all the changes in a professional, concise presentation.

Importantly, Lance will teach the webinar, putting all changes into their proper context and importance.

Don’t Jeopardize your SBA 7(a) guaranty by not following the new rules!

Give your staff the tools to become experts in the new SBA SOP 5010 (J)

These are some of the changes you and your staff will learn about the new SOP:

MANAGEMENT ISSUES, COMPLIANCE & LENDER RESPONSIBILITY

  • Updated guidance on Agents, including Lender Service Providers
  • Added the process for obtaining SBA’s prior written consent on portfolio transfers and loan participations
  • Added the process for obtaining SBA’s prior written consent to secured credit and SBA securitization transactions, including a description of the basic conditions that a Lender must meet in order to securitize and minimum elements that SBA requires for securitizations
  • CAIVRS Disclosure to Applicants

ELIGIBILITY

  • New procedures for determining franchise eligibility
  • New guidance regarding affiliation control based on management agreements
  • New procedures for businesses with a religious affiliation
  • Revised procedures for businesses with an associate with poor character/912 issues
  • New rules for consumer and marketing cooperatives
  • Revised rules for businesses providing prurient sexual material
  • New guidance for non-US citizens
  • Finance change of ownership with EPCs

UNDERWRITING

  • Added minimum equity requirements for certain 7(a) loans — Start-Up businesses and Changes of ownership
  • Removed the requirement for 25% equity injection when intangibles exceed $500,000 in change of ownership loans.
  • Provided direction that SBA and/or the Lender, for loans processed using delegated authority, may require a personal guaranty, regardless of ownership interest, if any, when deemed necessary for credit or other reasons
  • Clarified that Lenders must consider seller debt as debt in all applications
  • Increased the percentage of loan proceeds that may be used to purchase land from 20 percent to 33 percent for the Builder’s CAPLine.
  • Clarified the eligible uses of loan proceeds for farm enterprises.
  • Expanded EWCP credit underwriting standards
  • Updated EWCP collateral requirements
  • Revised policies regarding debt refinancing for SBA Express, Export Express, and EWCP Lenders.
  • Clarified the Loan Program Requirements for change of ownership loans involving Employee Stock Ownership Plans or equivalent trusts.
  • Updated eligible uses of proceeds for Export Express.
  • Clarified guidance regarding maximum guaranty amounts for combination of 7(a) and 504 loans.
  • Revised the requirements for SBA Express Revolving loans to include a term-out period.
  • Clarified EWCP maturities for Single Transaction-Specific loans.
  • Clarified that the Note terms for variable interest rate loans must include the first adjustment date by either stating a specific date, or using the final disbursement date to determine the timing.
  • Clarified the guidance regarding allowable fees for packaging and other services.
  • Updated the guidance concerning disclosure of fees and Lender expenses, including SBA Form 159
  • Updated environmental policy guidance to reflect current federal requirements and added guidance related to the release of rights to indemnification from SBA/Lender
  • Changed standard for business financial statements to be dated within 120 days of submission to SBA

COLLATERAL

  • Guidance when collateral is listed in the National Register of Historic Places

CLOSING

  • Revised the guidance on how and when the guaranty fee must be paid for loans with short term maturities and the circumstances under which a refund will be provided to the Lender.
  • Consolidated and simplified the guidance on the fees a Lender may charge an Applicant to conform to regulatory changes made in the Final Rule
  • Added guidance on the process for selling loans in the Secondary Market

SERVICING

  • Expanded the list of actions that do not require prior approval by SBA. Lender may use E-Tran Servicing to notify SBA of those actions
  • Added guidance that Lenders are required to report information to the appropriate credit reporting agencies whenever they extend credit through an SBA loan
  • Added guidance that SBA and the PLP-EWCP lender may determine certain requirements for foreign accounts receivable, including advance rates and/or use of control accounts for asset based EWCP loans
Taught by a veteran SBA expert and educator
  • head_teckler

    Lance Sexton, Coleman Faculty Instructor

  • head_coleman

    Bob Coleman, Publisher, Coleman Report

Lance Sexton served as Deputy Director of the SBA Little Rock Commercial Loan Servicing Center managing the Servicing of SBA Loans, the liquidation of SBA Express Loans, and the Liquidation of SBA 504 loans in a 24 state area. Lance has 30 years of experience in the origination, servicing, and liquidation of SBA Loans, ten years of experience directly managing portfolios of SBA loans that are both performing and nonperforming, and six years of experience as a small business owner.

Moderated by Bob Coleman, the Author of “Money Money Everywhere and Not a Drop for Main Street.” He is the founder of the Coleman Publishing, a publisher of books, data, newsletters and reports and a producer of conferences, webinars and training videos — to help finance professionals become small business lending experts.

Bob is the nationally recognized expert on small business financing. He has appeared frequently on Fox Business News, NPR and other numerous media outlets. He is sourced by all print media including the Wall Street Journal and Bloomberg. He is a frequent speaker about small business lending throughout the US and EU. Bob has a BA in Medieval History from the University of California Santa Barbara and a MBA in Real Estate Finance from the University of Southern California.

His passion is getting capital to Main Street and Rural American small business.

Webinar Details

Certificates of Participation
All Coleman Webinar attendees will receive a certificate of participation. This documents your continuing education history for SBA and your regulators.

We will automatically forward a certificate of participation for those who are registered to attend the webinar via GoToWebinar.

If you have purchased the unlimited site license and would like certificates for all who attend simply forward their names and email addresses to jeanne@colemanreport.com. She will email the certificates to all attendees.

Questions
Questions are strongly encouraged. There are two ways to ask a question. The first is to ask the question via the chat box on the GoToWebinar dashboard. The second way is to send an email to joseph@colemanreport.com. Also, feel free to ask pre-webinar questions.

About Coleman Webinars
Coleman is the largest producer of small business banking video webinars and online training for the banking industry.

Our faculty are professional instructors are the absolute experts in their fields.

Why a Coleman Training Webinar?
It’s very cost effective. No airfare, no hotels. Just cram as many people as you wish into your conference room and turn on the computer. You have several options to view the program. You may watch on screen, or listen in on your phone.

You can choose to have any many connections nationwide as you wish when you purchase unlimited access for only $489.

A great benefit of the program is that you may have your questions answered by the faculty. All of our webinars are recorded. Buyers of the unlimited site license option will receive a DVD recording of the event to share with anyone you wish.

A transcript of the program is also provided to purchasers of the unlimited site license.

How it Works
We use GoToWebinar for the webinar platform. You will receive a link that will direct you to an Internet site to view the presentation. If you would like to test this process to make sure you will be able to access the link through your system’s firewall, just send an email to joseph@colemanreport.com, and he will schedule a test run.

Accessing GoToWebinar
There are two ways to access the webinar. The first is to simply click on the link we will provide when you register.

If you have a firewall issue, or you can’t get the GoToWebinar link to work, don’t panic!

The second way to access the webinar is directly from the GoToWebinar website. You will simply need to input the webinar ID and access code. These will also be provided when you register, and again the day before the webinar when we distribute the handouts.

Note we will open the webinar for attendees to join at 12:00pm ET. This will give each attendee two full hours before the webinar begins to troubleshoot any technical issues. Call (818) 790-4591 if you need assistance.

All Coleman Webinar Speakers are seen Live via Video Stream
You will see our speakers live through a video feed. You may customize the size of the speaker and powerpoint presentations by clicking on the webcam button on the GoToWebinar dashboard. You may position the speakers at the top, bottom, right or left hand sides. You may also choose to eliminate the video stream and just view the powerpoint.

Telephone Only Option
You may also choose to listen to the program on your telephone. The phone number will be provided with the handouts.

PDF Handouts
You will receive the pdf handout via email the day before the event. These may be distributed to all of your attendees.

Replay Link
If something comes up and you miss any part of the webinar, or there are technical issues such as a power failure, Internet dropout, fire alarm drills, actual fires or, earthquake (yes that has happened!) simply email joseph@colemanreport.com and he will send you a link you may watch all or part of the webinar at your leisure. There is no charge for this service.

The Fine Print
1) The single user registration fee of $389 is based on location not attendance. You may have as many people in one location attend. You may distribute the materials to anybody in your company.
2) For only $100 more ($489), you may invite as many people from your institution from as many locations as you wish. (You also get the reply link and transcript!) We will forward you a link that allows you to sign up as many people as you wish.
3) Substitutions are allowed at no charge.
4) Cancellations receive a 100% credit for any Coleman product.
5) As with all our products, we offer a 100% money back satisfaction guaranty — no questions asked.

Five Easy Ways to Order!

1) Previous customers need only to send an email to joseph@colemanreport.com with “Register Global SOP 50 10 5(J)” in the Subject Line. We will do all the paperwork and charge your credit card on file, or send you a PayPal request.
2) Call Joseph Coleman at Customer Service at 818-790-4591 extension 1
3) Fax the order form to: 818-790-7859
4) Mail the order form to: Coleman Publishing, 28081 Marguerite Parkway #4525, Mission Viejo, CA, 92690
5) Click “Add to Cart” to pay using PayPal


What SBA Lenders Need to Know About the New SOP 5010 (J)



Bob Coleman
Editor, Coleman Report
28081 Marguerite Parkway, #4525
Mission Viejo, CA 92690
(818) 790-4591
(c) 2017 All Rights Reserved

1 week ago by in . You can follow any responses to this entry through the | RSS feed. You can leave a response, or trackback from your own site.