Closing the SBA 7(a) Loan Under SOP 50 10 8.1 — Tues, Sept 1
What Changed and What Lenders Need to Know at Closing
Coleman Professional Webinar Training
Date: Tuesday, September 1
Time: 2:00 p.m. Eastern
Recording and e-certification provided
SOP 50 10 8.1 takes effect October 1, 2026, bringing several changes to the SBA 7(a) closing process.
Most of the closing framework remains intact. But lenders will see new guidance covering post approval modifications, lien filing and recordation, secondary market sales, preparation of the SBA Note, borrower certifications, and the move from E-Tran terminology to the SBA Loan System.
For experienced SBA lenders, the issue is not relearning how to close a 7(a) loan. It is knowing exactly where the rules have changed and where existing procedures can stay in place.
Lance Sexton will walk through those changes and compare the closing requirements in SOP 50 10 8 with the requirements taking effect under SOP 50 10 8.1.
Lance Will Cover
• Changes to 7(a) closing requirements under SOP 50 10 8.1
• Post approval modifications that require prior SBA approval
• Requests that must go to LGPC and actions that may be handled through the SBA Loan System
• Lien filing, recordation, and documentation of lien perfection
• Secondary market sales before confirmation of lien recordation is received
• Lender responsibility when required liens are not properly perfected or recorded
• New flexibility in how repayment terms are presented in the SBA Note
• Alternative Base Rate language for variable rate Notes
• Revised borrower certifications
• Requirements that remain unchanged, including SBA Form 1050, verification of equity injection, and disbursement documentation
One of the more practical changes deals with lien recordation.
Under SOP 50 10 8.1, a lender may sell a loan in the secondary market after the required lien has been filed, even if confirmation of recordation has not yet been received. That does not relieve the lender of responsibility. The lender must still obtain a properly perfected and recorded lien in the required priority position.
Post approval modifications receive additional attention as well. When a proposed change requires prior SBA approval, the lender cannot make the decision on its own. The request must be sent to LGPC and include the reason for the change, supporting documentation, and the lender’s recommendation.
There is also more flexibility in preparing the SBA Note. The repayment terms contained in the SBA Terms and Conditions must still be included, but lenders are no longer restricted to a particular presentation. The terms may be shown in any format as long as all required information appears in the Note.
This session is designed for SBA professionals responsible for moving an approved loan from authorization through closing and disbursement.
Lance will identify the changes that require a closing procedure update, point out the requirements that have not changed, and address the issues lenders are likely to encounter when they begin closing loans under SOP 50 10 8.1.
How the Webinar Works
We use Microsoft Teams as the Webinar Platorm
Recording
All Coleman webinars are recorded, and a link is sent to all attendees.
Single Site License
The single-site license grants your institution one viewing of the webinar. It is permissible to use a single-site license on one device in a conference room for multiple attendees to view. The webinar can be viewed on any device.
Multiple Site License
A multiple-site license is an unlimited access pass for anyone at your institution. You will be given a link that anyone in your email domain can use.
Webinar Links and Handouts
The webinar link will be sent out prior to the session, and included again when we send the presentation and handouts.
Participants Earn Certificates of Participation
All Coleman Webinar attendees will receive a certificate of participation. This documents your continuing education history for SBA and your regulators.
Questions
Questions throughout the webinar are strongly encouraged. There are two ways to ask a question. The first is to ask the question via the chat in Microsoft Teams. The second is to send an email to anna@colemanreport.com. Also, feel free to ask pre and post-webinar questions.
The Fine Print
1) Substitutions are allowed at no charge.
2) Cancellations receive a 100% credit for any Coleman product.
3) As with all our products, we offer a 100% money back satisfaction guarantee — no questions asked.
3 Easy Ways to Order
1) ONLINE — Register and pay online via Quickbooks
2) EMAIL –Send an email to cindy@colemanreport.com with “Webinar Registration” in the Subject Line. We will do all the paperwork and either send you a sales receipt or an invoice.
3) PHONE — Call us at 818-790-4591.
Bob Coleman
Publisher, Coleman Report
bob@colemanreport.com