eBulletin Archives
Business Lending Community ‘Must Reads’
We provide an ongoing stream of articles on issues concerning the business lending community.
FROM RICHARD @ JRB … CHECKING OUT ‘TECHNICAL DEFAULT’ IN THE NEW SOP 50 57 3 … NOW, PRACTICE SAYING, ‘VALIDATION ERROR 4363.’
Heads up 7(a) lenders: Better learn to say, V-A-L-I-D-A-T-I-O-N E-R-R-O-R 4363! Why? Enforcement of technical violations is smack-dab in the new SOP 50 57 3. JRB Senior Associate Richard Jeffrey tells you why this could be a useful eligibility tool. Just check out Technical Default on pg. 77 of SOP 50 57 3!
FROM SANDY @ JRB … WE’RE HEADING TO NEW ORLEANS AND NADCO’S NOW ’23 CONFERENCE NOV. 13-17. ATTENDING? STOP BY OUR BOOTH!
JRB heads to NADCO's NOW '24, Nov. 13-17. The timing is right, with SOP 50 7.1 effective Nov. 15. JRB Principal Alex Liberchuk and Sr. Associate Sandy Mortan will attend key breakout sessions, garnering information for JRB eBulletins, and identifying strategies to assist our clients nationwide. Attending? Stop by our booth!
JRB NEWSFLASH … IT’S HERE! SOP 50 10 7.1!! WORTH THE READ? WITH MORE THAN 50 TECHNICAL CORRECTIONS, YOU BET!
SBA announced the long-awaited arrival of SOP 50 10 7.1 with a webinar on the Agency’s 7(a) Connect Quarterly Update on Tues., Oct. 24. Effective on November 15, 2023, this updated SOP contains more than [...]
FROM LISA @ JRB … UPDATED FORM G-845: A REMINDER AND A REFERENCE—JUST THE FACTS
From Lisa @ JRB ... Important Reminder: Effective June 1 2021, with a drop-dead deadline of June 28, 2021, SBA requires use of the updated Form G-845 for all status verification requests. Please make sure to begin using the updated USCIS Form G-845 immediately.
FROM ALEX@JRB … HOT TOPICS IN THE OLD TOWN! WE’RE HEADING TO NAGGL’S ANNUAL CONFERENCE IN NEW ORLEANS, NOV. 6-8. ATTENDING? STOP BY OUR BOOTH!
From Alex @ JRB ... See you in the Big Easy! JRB is heading for for NAGGL's Annual Conference Nov. 6-8 ... 7(a) lenders: If you're attending NAGGL, stop by our booth. We look forward to meeting you and discussing your SBA program. Got questions about our services? Contact JRB.
FROM RICHARD @ JRB … RE: SBA’s 504 REFI FINAL RULE─REFI 7(a) LOANS TO 504 STILL A SAVVY MOVE? YEP. SOME ISSUES? YEP. READ ON …
Joining the rush to refi 7(a) loans to 504? Get the big picture from JRB's "issues guy" and 504 expert Senior Associate Richard Jeffrey
FROM RICHARD @ JRB … LSAs: WHAT’S ALL THE BUZZ ABOUT? WELL, I’LL TELL YOU … WANT THE FY 2024 LSA LIST? JUST ASK ME!
Labor Service Areas: What's all the buzz about? JRB Senior Associate Richard Jeffrey tells you. Want the latest LSA List? Just ask him!
JRB NEWS FLASH … GOOD NEWS FOR ALP CDCs! SBA’s NEW ALP EXPRESS PROGRAM: SIGNIFICANT CHANGES = MORE OPPORTUNITIES!
On October 6, 2023 SBA published a Notification in the Federal Register introducing the new ALP Express Pilot Program, effective October 1, 2023. The “new” ALP Express picks up from the authority previously authorized under [...]
JRB NEWS FLASH! SBA’s CA PILOT PROGRAM SEPT. 30, 2023 TERMINATION DATE HAS BEEN EXTENDED TO OCT. 31, 2023 …
SBA’s CA Pilot Program September 30, 2023 termination date has been extended to October 31, 2023. After that date, CA Lenders must be converted to Community. (88 FR 69003)
FROM RICHARD @ JRB … HOT OFF THE PRESSES: FY 2024 LSA LIST─COME AND GET IT!! ANSWERING QUESTIONS, CHECKING OUT CHANGES
FY 2024 LSA List: Come and Get It! Hot off the presses ... JRB Senior Associate Richard Jeffrey answers lender LSA questions -- and will send you a copy of the List. Just email him. He's standing by.
JRB NEWS FLASH! THEY’RE HERE: 504 FEES FOR FY 2024 …
They’re here! SBA Information Notice 5000-849342 announces the FY 2024 Annual Service Fee (the Ongoing Guaranty Fee) and the Upfront Guaranty Fee for 504 loans approved October 1, 2023-September 30, 2024. Good news: The Annual [...]
FROM RICHARD @ JRB … CHANGES TO MARIJUANA POLICY IN THE NEW SOP … AND I’M NOT JUST BLOWING SMOKE!
As we wait for the long awaited technical updates to SOP 50 10 7, we’ve been relying on the 5/10/2023 version. And we’ve been making do, taking the still applicable parts of SOP 50 10 [...]
FROM RICHARD @ JRB … HEADS UP: SBA’S LENDER SURPLUS AREA LIST IS ON THE WAY─AN INCENTIVE FOR LENDERS IN AN LSA …
Each year the U.S. Department of Labor issues its list of Labor Surplus Areas (LSA’s). These are states, counties or municipalities with a two-year unemployment rate higher than an annually established threshold. The determination is [...]
FROM RICHARD @ JRB … HEY, 7(a) LENDERS: FEES, WE’VE GOT FEES! – AN OVERVIEW OF 7(a) FEES FOR FY 2024 …
Hey, 7(a) Lenders! JRB Senior Associate Richard Jeffrey gives you an overview of 7(a) fees for FY 2024.
FROM RICHARD @ JRB … TO SIGN OR NOT TO SIGN? DO I GET QUESTIONS ABOUT SIGNATURES DURING 504 APPLICATION? OH BOY, DO I! CHECK OUT THESE THREE …
What’s that definition of insanity? “Doing the same thing over and over again but expecting different results.” That statement is attributed to Albert Einstein. I read the other day that Einstein never said it. Well, [...]
FROM RICHARD @ JRB … AUNT SADIE’S GOT A NEW BUSINESS. AND THERE’S A NEW SOP. SO WHAT’S CHANGED?
Good news for startups! JRB
FROM RICHARD @ JRB … HEY, SBA LENDERS! HERE’S A SMASHINGLY GOOD IDEA: REFI YOUR 7(a) LOANS TO 504s AND SAVE YOUR BORROWERS $$$. AS EASY AS IT SOUNDS? WELL …
When is a "smashingly good idea" not as easy as it sounds? JRB Senior Associate Richard Jeffrey clues you in.
FROM RICHARD @ JRB … ABOUT THAT EPC/OC LOAN – SEARCHING THRU THE NEW SOP: ‘NOW, WHERE IS THAT RULE?’
If you have ever studied Philosophy, you have run into Diogenes. Even if Philosophy wasn’t in your study plan, chances are you’ve seen paintings depicting Diogenes as an older man, holding a lantern as he [...]
FROM RICHARD @ JRB … SIZING IT UP: SBA’S NEW PROPOSED RULE — ADJUSTMENT OF ALTERNATIVE SIZE STANDARD FOR 7(a) AND CDC/504 LOANS
It's only 13 years in the making! JRB Senior Associate Richard Jeffrey sizes up SBA's Proposed Rule to change the alternative size standard for 7(a) and 504 loans.
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