SBA UPDATES

INFORMATION NOTICE 5000-847027

Issuance of SOP 50 10 7

Affects the 7(a) and 504 Loan Programs
Effective: May, 10, 2023

 

SBA Information Notice

 

The purpose of this Notice is to inform 7(a) Lenders, Certified Development Companies (CDCs), together known as “SBA Lenders,” SBA employees, and Applicants and Borrowers of the 7(a) and 504 Loan Programs of the issuance of Standard Operating Procedure (SOP) 50 10 7, Lender and Development Company Loan Programs.

 

Source: https://www.sba.gov/document/information-notice-5000-847027-issuance-sop-50-10-7

Interesting Facts:

42% of all U.S. businesses are owned by women

Small businesses employ 61.7 million Americans

The average loan amount during the 2022 fiscal year for 7(a) loans was $538,903