Comments Due to NAFCU: SBA - Affiliation and Lending Criteria for the SBA Business Loan Programs

Important Regulatory Dates Add to Calendar 2022-12-02 17:00:00 2022-12-02 17:00:00 Comments Due to NAFCU: SBA - Affiliation and Lending Criteria for the SBA Business Loan Programs NAFCU would like to highlight the following: The rule would require lenders to underwrite SBA loans using the same credit analysis processes and procedures used for their similarly-sized, non-SBA guaranteed commercial loans. The rule would increase the threshold for 7(a) and 504 loans requiring hazard insurance on collateral to only loans greater than $150,000. The proposed rule would allow Borrowers to use 7(a) loan proceeds to purchase a portion of a business or an entire business, which was previously prohibited. Comments due to NAFCU: December 2, 2022 Comments due to the SBA: December 27, 2022 Comment now   NAFCU will send comments on behalf of its members to the SBA by its deadline (December 2, 2022). Location NAFCU digital@nafcu.org America/New_York public

NAFCU would like to highlight the following:

  • The rule would require lenders to underwrite SBA loans using the same credit analysis processes and procedures used for their similarly-sized, non-SBA guaranteed commercial loans.
  • The rule would increase the threshold for 7(a) and 504 loans requiring hazard insurance on collateral to only loans greater than $150,000.
  • The proposed rule would allow Borrowers to use 7(a) loan proceeds to purchase a portion of a business or an entire business, which was previously prohibited.

Comments due to NAFCU: December 2, 2022

Comments due to the SBA: December 27, 2022

Comment now  

NAFCU will send comments on behalf of its members to the SBA by its deadline (December 2, 2022).