Lori,

How have you been adapting and improving your processes and procedures to cover the changes in SOP 50 10 7.1? Whether it’s improving on consistency, defining “Do What You Do,” or training your staff, there’s always room for improvement.

Notices from SBA in 🏖️ August 🏖️

SBA 7(a) Quarterly Connect Calls 2024 dates and links: Oct. 8, 2024

SBA 504 Quarterly Connect Calls 2024 dates and links: Sept. 19, 2024; Dec. 10, 2024

SBA Form Instructions: 10806 Field Descriptions Updated 8/1/2024

SBA Policy Notice 5000-857729: Extension and Revision of SBA Guidance on COVID EIDL Servicing and Liquidations. Issued 8/5/2024 (SBA has not put on website yet so link is unavailable. Contact us for copy if needed).

SBA's Processing of COVID-19 Economic Injury Disaster Loan Reconsideration Requests issued 8/6/2024

Small Business Lending Company Application Process for New SBLC Licenses issued 8/9/2024

SBA Information Notice 5000-860174: 7(a) Fiscal and Transfer Agent Servicing Fee Effective 10/1/2024 issued 8/12/2024

SBA Form 2113_Program Income Report (For SBDC Use Only) last updated 8/29/2024



Sept 2024: Fiscal Transfer Agent Services for SBA 7(a) Secondary Market issued 8/29/2024

Did you notice the new notice?

As an SBA lender service provider, we see many things during our SBA loan reviews and SBA loan liquidation work.

One area where we often see issues is in Changes of Ownership. They get complicated! The key is to slow down and watch for the details.

As an SBA Lender Service Provider, we are asked to perform annual loan reviews for many of our clients.  With each one we add to our pool of “SBA compliance findings”.  

You already know that SBA released two important updates to SOP 50 10 last year, with 50 10 7 effective in August, and 50 10 7.1 in November.

Since then, we’ve seen some challenges with Lenders maintaining consistency within a specific loan file, and with their internal lending practices.

Are you feeling as if one more improvement is going to tip your overwhelm into overdrive?



We get that. But here’s the thing: improvements make your work easier and, yes, more consistent. Everything you’re doing right now might be just fine, but if your team has put workarounds in place – working around systemic issues between your internal systems and SBA’s, for instance – then there are probably some adjustments that would make life easier in the long run.

As the Zen monk Sonryu Suzuki said to his students, “Each of you is perfect the way you are – and you can use a little improvement.”

Stay tuned for our upcoming article on managing those workarounds. And in the meantime, if you’d like a little help creating some improvement, give us a call at 877.576.0819, or drop us a note through our website.

Your Team at LRM Lender Consultants,