, Our top NAGGL takeaways and more!

“Reunited and it feels so good”

– Peaches and Herb

Greetings!

While we know it sounds corny but being able to attend this years NAGGL Annual Conference in San Diego and being reunited with the SBA Lending community face to face was energizing. To see, in person, the commitment to small business was truly inspiring.

Over the next few weeks, you will hear us talk about all we learned and share our thoughts on all we heard.

LRM's Notice Nook

Notices from SBA in October

SBA Notice 5000-820756 Issued 9/29/2021 – Extension of Temporary Procedures for closing SBA Loans to Microloan Intermediaries

SBA Notice 5000-820325 Issued 9/30/2021 – 1^st Quarter “Peg” rate, Direct Interest Rate & Maximum Interest Rate of a Third-Party Lender Loan for a 504 Project

SBA Notice 5000-820701 Issued 9/30/2021 – Extension of Previous Guidance on Acceptable Signatures for Applications and Loan Documents in the 7(a) and 504 Business Loan Programs through 2/1/2022

SBA Notice 5000-820757 Issued 9/30/2021 – Extension of Guidance on Acceptable Signatures for Microloan Program Notes

SBA Notice 5000-817452 Issued 10/14/2021 – 504 Debenture Funding Schedule for Calendar Year 2022

Updated Payment Instructions to FTA Issued 10/19/201 on FTA Wiki

SBA Notice 5000-821918 Issued 10/26/2021 – Extension of and Update to Guidance Related to Paycheck Protection Program Loans and Changes of Ownership

Franchise Directory Issued 10/28/2021

Updated Form 1502 Template Issued 10/29/2021

Time to Review

Your SBA Debt Refinance Process!

By Rebecca Mendoza

Did you see the September 8th, 2021, SBA Notice 5000-814473 with the really long title?

“Interim Advances: Guidance for Processing Short-Term Interim Loans prior to the SBA 7(a) Loan Approval”

Based on its guidance, you’ll definitely want to revisit your SBA Debt Refinance process. So here are our tips to help ensure you’re underwriting, documenting, and closing your file in a way that supports eligibility and payment of the guarantee should the loan default.

LEARN MORE

THE LATEST NEWS FROM OUR BLOG

Quick NAGGL Conference Update!

By Rebecca Mendoza

It was so good to be back to in-person attendance at the Annual NAGGL Conference last week in San Diego! So many interesting attendees, exhibitors, sponsors, and speakers!

We heard a lot, learned a lot, and participated in some great breakout sessions. And we came away with lots of new information to share with you over the next few weeks.

To start off, here are five of our top takeaways from the conference.

1. SBA Guaranty Purchases: PPP Loans should be included in the list of companion loans.

SBA is an ever-changing program, it ebbs and flows with the needs of the small business, the economy and the politics of our day. The one constant is the commitment of our Lenders to the program and its integrity.

LRM Lender Consultants strives to keep you up to date on all the current SBA Information available. Follow us on LinkedIn to get our most recent blog posts or check out the Blog page on our website.

Your Team at LRM Lender Consultants,