SBA 7(a) Secondary Market Sale Restrictions in the Event of a 11/18 Government Shutdown

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The current Continuing Resolution (CR) extends government spending levels through Friday, November 17, 2023. In the event of a government shutdown due to a lapse in funding after 11:59 PM ET on the 17th, SBA 7(a) Secondary Market sale and pool formation processes will operate under the following parameters:

  • The sale of SBA 7(a) loans into the Secondary Market may continue only for those loans entered to SBA’s Capital Access Financial System (CAFS), Settlement Express, and complete sale documentation was received by the FTA to, no later than 5 PM ET on Friday, November 17, 2023. There will be no exceptions to this deadline.
  • Assignees may continue to present SBA Form 1088, Secondary Market Assignment and Disclosure Form, and its related registered certificate for transfer to the FTA for SBA 7(a) Secondary Market Certificate Transfers. This includes Confirmation of Originator Fee transfers.
  • SBA 7(a) Pooling may continue only for those pools submitted through CAFS, PSU Online, from Monday, November 13, 2023, through Thursday, November 16, 2023 (ET), and the FTA issued CUSIP numbers and pool numbers no later than Friday, November 17, 2023 (ET).

Source: SBA