In addition to its guidance on PPP loan issues, the SBA also issued guidance on Economic Aid Act provisions affecting the agency's 7(a) and 504 loan programs.
SBA issues guidance on 7(a), 504 programs
January 28, 2021 / By ICBA
In addition to its guidance on PPP loan issues, the SBA also issued guidance on Economic Aid Act provisions affecting the agency's 7(a) and 504 loan programs.
In addition to its guidance on PPP loan issues, the SBA also issued guidance on Economic Aid Act provisions affecting the agency's 7(a) and 504 loan programs. The procedural notices are as follows:
- 5000-20084: details temporary higher guaranty percentages and fee reductions on eligible 7(a) loans as well as an increase in the maximum SBA Express loan amount.
- 5000-20085: announces the temporary elimination of certain 504 fees.
- 5000-20086: informs lenders that SBA has notified 7(a), 504, and Microloan borrowers of their eligibility for debt relief payments under Section 1112 of the CARES Act.
Subscribe now
Sign up for the Independent Banker newsletter to receive twice-monthly emails about new issues and must-read content you might have missed.
Sponsored Content
Featured Webinars
Join ICBA Community
Interested in discussing this and other topics? Network with and learn from your peers with the app designed for community bankers.
Subscribe Today
Sign up for Independent Banker eNews to receive twice-monthly emails that alert you when a new issue drops and highlight must-read content you might have missed.
News Watch Today
Join the Conversation with ICBA Community
ICBA Community is an online platform led by community bankers to foster connections, collaborations, and discussions on industry news, best practices, and regulations, while promoting networking, mentorship, and member feedback to guide future initiatives.
Join the Community Example Text
