Implementation Guidance for New SBA 7(a) and 504 Regs Effective April 3!
75 minutes of Online Training for your staff
Date: Wednesday, April 25, 2018
Time: 2:00 p.m. Eastern
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1) Register Immediately by Ordering Online Here!
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That didn’t take long. Several of the new SBA SOP changes for the 7(a) and 504 loan programs effective January 1 have been rescinded.
The problem is many of the changes remain.
Do you and your staff the underwrite and closing changes that were effective January 1 and were not eliminated?
Check out this paragraph from the new regs.
SBA is increasing the minimum percentage ownership at which owners are subject to personal liquidity consideration from 10% to 20%. As a reminder, the liquidity of the owner includes the liquid assets of the owner’s spouse and any minor children.
- How to document credit elsewhere
- How to document credit elsewhere in the credit memorandum
- What is the standard to make a “determination as to the availability of credit from nonFederal sources related to the Applicant.”
- How much personal liquidity is too much to make the borrower ineligible for SBA financing and void the guaranty?
- What must a prudent lender do in underwriting minority owners after April 3?
- Just exactly how are you to analyze the “liquid assets of the owner’s spouse and minor children?”
And SBA has introduced new rules for partner buyouts.
- Documentation required
- Equity required
- Cash equity required
- Subordinated debt documentation
- Borrower certifications required
- Proforma balance sheet minimum standards
Lance will address the balance of the SOP Notice
- For CDCs, how exactly do you “demonstrate the need for desired credit (Credit not available Elsewhere)”
- A review of a prudent SBA lender standard of the personal liquidity test — absent SBA guidance
- Exactly how to document credit elsewhere in the credit memo and file
- What documentation to obtain from minority shareholders who own less than 20% of the small business
- Eligible marijuana periphery small businesses located in states with legalized pot
- What to do If your SBA 7(a) or 504 borrower leases their property to a pot farm?
- Equity injection requirements for partner buyouts
- Documenting equity injection for partner buyouts
- Equity requirements for 7(a) small loans
- A review of the monitoring requirements for working capital CAPLINES 7(a) loans
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.
Bob Coleman is the Author of “Money Money Everywhere and Not a Drop for Main Street.” He is the Publisher of the Coleman Report, a trade newsletter and website for SBA and small business lenders. He produces online training videos and webinars for small business lenders to teach them to make less risky loans to Main Street.
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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.
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The Fine Print
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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.
1) Previous customers need only to send an email to firstname.lastname@example.org with “Register Credit Elsewhere” 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 Pkwy, #4525, Mission Viejo, CA 92690
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Editor, Coleman Report
28081 Marguerite Pkwy #4525
Mission Viejo, CA 92690
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