“ You are never too old to set another goal or to dream a new dream.” – C.S. Lewis

2023 ended with a flurry of activity. End-of-year conference rounds, finalizing changes from SOP 50 10 7.1, issuance of Procedural Notice 5000-852522 and let’s not forget the parties and the shopping!

At the end of the year and the beginning of a new one, we look to goals and resolutions. What are yours?

Our’s are to keep providing you with the essential information and support you need to provide your Lenders with the best possible – and most informed – support!
LRM SBA Notice Nook
Look out - here comes 2024!
It’s been a lot these last few months.

Three new SOPs from SBA (50 10 7, 50 57 3, and the updates in 50 10 7.1).

Inflation (mercifully under control and declining).

Rising interest rates (sadly not declining).

And 2024 is looming, which means all the end-of-year tasks are here – along with everyone’s holiday plans.

Let’s take a quick look at what’s most important (so you can get to your holiday plans!).
What's Up with
Universal Purchase Packages (UPP's)
By Lori McCausland
Getting the guarantee purchased is important; that’s not new news!

What is news is that the new Universal Purchase Package, or UPP, is now a single package for all loan types.

That will make things easier, for sure – and as with anything new, there’s a learning curve. We have a few tips for you, but first, a very important point. SBA is actively working on updates to the UPP, so always check the SBA UPP website when you’re starting a new UPP. Otherwise, you risk using an outdated form – and you know what that leads to (yes: rework and delays).

Let’s review some key reminders, new requirements and best practice suggestions covered in the UPP breakout session at last month’s NAGGL conference.
On the subject of resolutions, we have a friend who says the last New Year’s resolution she actually kept was… to never make another New Year’s resolution. Are you in that camp? We’re not, though we do understand her point. But we believe that when goals or resolutions are set with care and clarity (instead of with “shoulds” and guilt!), they can truly inspire us to do better and be better.

How about you?

Happy New Year! and if you’re curious about how we might be able to support you in having the Best Year Yet in your SBA department, drop us a line or give us a call at 877.576.0819!

Your Team at LRM Lender Consultants,
Lori N. McCausland
LRM Lender Consultants Inc.
Rebecca L. Mendoza
LRM Lender Consultants Inc.
© 2021 LRM Lender Consultants Inc. All Rights Reserved