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We recently shared SBA Procedural Notice 5000-876626 (click here to reference our previous newsletter), which was later updated through SBA Procedural Notice 5000-876777 (click here to reference our previous newsletter). SBA has now issued SBA Information Notice 5000-877673, "Guidance for Frequently Asked Questions Related to Recent SBA Procedural Notices". The Information Notice provides brief responses to address common lender questions on revised Applicant owner citizenship and residency requirements, and on the sunset of the SBSS Score in 7(a) Small underwriting. Click here to access the SBA Information Notice on the SBA website.
If your lending institution has questions about the recent SBA Information Notice, or other SBA lending matters, please contact us at SBAQuestions@JellumLaw.com.
This article is provided for general information and educational purposes only. It does not solicit, establish, or continue an attorney-client relationship. The contents should not be construed as legal advice or opinion. If the organization would like formal legal advice, our professional liability insurer (as well as the applicable attorney ethical rules) requires that we establish a formal attorney-client relationship. If you are interested in learning more about working with Jellum Law, please contact us at SBAQuestions@JellumLaw.com.
This article is provided for general information and educational purposes only. It does not solicit, establish, or continue an attorney-client relationship. The contents should not be construed as legal advice or opinion. If the organization would like formal legal advice, our professional liability insurer (as well as the applicable attorney ethical rules) requires that we establish a formal attorney-client relationship. If you are interested in learning more about working with Jellum Law, please contact us at SBAQuestions@JellumLaw.com.
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