{"citation":"What changed in SBA lending rules. SBA Express Loans, Janover Capital LLC (data as of October 1, 2026). https://www.sbaexpress.loans/what-changed/ Source: SBA, SOP 50 10 Lender and Development Company Loan Programs (https://legacy.sba.gov/document/sop-50-10-lender-development-company-loan-programs).","url":"https://www.sbaexpress.loans/what-changed/","title":"What changed in SBA lending rules","data_as_of":"2026-10-01","checked":"2026-11-09","sources":[{"label":"SBA, SOP 50 10 Lender and Development Company Loan Programs","url":"https://legacy.sba.gov/document/sop-50-10-lender-development-company-loan-programs"},{"label":"Federal Register, Small Business Administration documents","url":"https://www.federalregister.gov/agencies/small-business-administration"}],"data":{"note":"Newest first. pages_affected lists the pages on sbaexpress.loans the change touches, separated by semicolons.","rows":[{"date":"2026-10-01","title":"SBA updates Form 1506, the 504 servicing agent agreement","document_type":"Information Notice","document_number":"5000-881291","sba_url":"https://legacy.sba.gov/document/information-notice-5000-881291-sba-information-notice-5000-881291","effective":"2026-10-01","what_changed":"SBA released a revised Form 1506 to conform with Executive Order 14247 on electronic payments. The Third Party Lender fee must now be withheld from the CDC's processing fee. Monthly payments run by ACH debit, or by wire if ACH is unavailable, and checks are not accepted. CDCs had a 30-day grace period to start using the new form.","who_it_affects":"CDCs, Third Party Lenders, and you if you are closing a 504 loan and signing the Servicing Agent Agreement.","pages_affected":"https://www.sbaexpress.loans/answers/504/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-10-01-5000-881291"},{"date":"2026-09-29","title":"SBA removes disparate-impact provisions from its Title VI rules","document_type":"Final Rule","document_number":"91 FR 61295","sba_url":"https://www.govinfo.gov/content/pkg/FR-2026-09-29/pdf/2026-19878.pdf","effective":"2026-09-29","what_changed":"SBA rescinded parts of 13 CFR Part 112, its Title VI civil rights rules. The removed text authorized affirmative action based on race, color or national origin. It also covered employment practices where providing jobs was not a primary aim of the assistance. SBA says the rules now prohibit only intentional discrimination and that it will not pursue disparate-impact liability against recipients of SBA financial assistance.","who_it_affects":"Organizations that receive SBA financial assistance under 13 CFR Part 112. The rule concerns civil rights compliance, not loan terms.","pages_affected":"","permalink":"https://www.sbaexpress.loans/what-changed/#2026-09-29-91-fr-61295"},{"date":"2026-09-25","title":"SBA issues technical updates to SOP 50 10 8.1 before it takes effect","document_type":"Information Notice","document_number":"5000-882227","sba_url":"https://legacy.sba.gov/document/information-notice-5000-882227-issuance-technical-updates-sop-50-10-81","effective":"2026-10-01","what_changed":"SBA replaced the August 2026 version of SOP 50 10 8.1 with an updated version. It applies to applications SBA receives on or after October 1, 2026. When trusts own 20% or more of an applicant, each trust must give an unlimited full guaranty. The trustor must also guarantee personally. Lenders may do internal valuations on 7(a) Small and SBA Express changes of ownership when the purchase price is $350,000 or less. Appendix 15's debt service coverage minimums still apply to those loans. Working-capital true-ups are not seller rebates. A special purpose property bought with its business may use one loan with a term up to 25 years. That applies when the property's value depends on the business. An existing Quality of Earnings report can be reused with a reliance letter or a different firm's review. A 504 Third Party Lender loan may now amortize longer than the debenture. The annual field examination applies to Working Capital CAPLines of $1,000,000 or more.","who_it_affects":"7(a) lenders, CDCs and Third Party Lenders. You if you are buying a business, hold shares through a trust, or use a Working Capital CAPLine.","pages_affected":"https://www.sbaexpress.loans/answers/ownership-changes/; https://www.sbaexpress.loans/answers/guarantees/; https://www.sbaexpress.loans/answers/sba-express/; https://www.sbaexpress.loans/answers/504/; https://www.sbaexpress.loans/answers/caplines-and-export/; https://www.sbaexpress.loans/guides/business-acquisition-financing/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-09-25-5000-882227"},{"date":"2026-09-03","title":"SBA sets fiscal year 2027 7(a) fees and changes the fee waiver","document_type":"Information Notice","document_number":"5000-881797","sba_url":"https://legacy.sba.gov/document/information-notice-5000-881797-fy-2027-7a-program-fees","effective":"2026-10-01","what_changed":"SBA set the upfront fee at 0% for fiscal 2027 7(a) loans of $700,000 or less to three groups. They are manufacturers (NAICS 31-33), listed food supply chain businesses and businesses in rural areas. Fiscal 2027 covers loans approved October 1, 2026 through September 30, 2027. Last year's waiver covered manufacturers only, on loans of $950,000 or less. Other upfront fees on the guaranteed portion are 2% at $150,000 or less and 3% from $150,001 to $700,000. Larger loans pay 3.5% up to $1,000,000 plus 3.75% above that, and loans of 12 months or less pay 0.25%. The annual service fee is 0.55% of the guaranteed balance, and lenders may not pass it to borrowers. SBA Express loans to veteran-owned businesses keep a $0 upfront fee.","who_it_affects":"You if you are a 7(a) borrower, especially a manufacturer, listed food supply chain business, rural business or veteran-owned business using SBA Express. Also 7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/answers/rates-and-fees/; https://www.sbaexpress.loans/loan-terms/; https://www.sbaexpress.loans/sba-guaranty-fee-calculator/; https://www.sbaexpress.loans/answers/veterans/; https://www.sbaexpress.loans/guides/rural-business-financing/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-09-03-5000-881797"},{"date":"2026-09-03","title":"SBA sets fiscal year 2027 504 fees and waives them for three groups","document_type":"Information Notice","document_number":"5000-881796","sba_url":"https://legacy.sba.gov/document/information-notice-5000-881796-fy-2027-504-program-fees","effective":"2026-10-01","what_changed":"SBA waived the upfront and annual service fees on fiscal 2027 504 loans for three groups. They are manufacturers (NAICS 31-33), listed food supply chain businesses and businesses in rural areas, including 504 debt refinance loans. Fiscal 2027 covers loans approved October 1, 2026 through September 30, 2027. Other 504 loans pay an upfront fee of 0.50% and an annual service fee of 0.203% of the outstanding balance. Loans under the 504 Debt Refinance without Expansion program pay an annual service fee of 0.204%. Last year's waiver covered manufacturers only.","who_it_affects":"You if you are a 504 borrower, especially a manufacturer, listed food supply chain business or rural business. Also CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/504/; https://www.sbaexpress.loans/answers/rates-and-fees/; https://www.sbaexpress.loans/guides/rural-business-financing/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-09-03-5000-881796"},{"date":"2026-08-31","title":"SBA drops its blanket commitment to public comment on loan rules","document_type":"Final Rule","document_number":"91 FR 55737","sba_url":"https://www.govinfo.gov/content/pkg/FR-2026-08-31/pdf/2026-17731.pdf","effective":"2026-08-31","what_changed":"SBA rescinded 13 CFR 101.108, which made it follow notice-and-comment rulemaking on loans, grants and contracts even when the law did not require it. SBA now follows the Administrative Procedure Act's default rules and says it may still seek comment case by case. SBA may change loan program rules without a comment period where the Act's exemption applies.","who_it_affects":"7(a) lenders, CDCs, trade groups, and you if you follow or comment on SBA rulemaking.","pages_affected":"","permalink":"https://www.sbaexpress.loans/what-changed/#2026-08-31-91-fr-55737"},{"date":"2026-08-14","title":"SBA publishes SOP 50 10 8.1, effective October 1, 2026","document_type":"SOP","document_number":"SOP 50 10 8.1","sba_url":"https://legacy.sba.gov/document/sop-50-10-lender-development-company-loan-programs","effective":"2026-10-01","what_changed":"SOP 50 10 8.1 takes effect October 1, 2026 and replaces SOP 50 10 8. It folds in the citizenship, SBSS, International Trade, alternative base rate, MARC and 7(a)/504 limit notices issued since June 2025. Changes of ownership now follow a new Appendix 15. Initial acquisitions need debt service coverage of 1.25:1, above the prior 1.15:1 Standard 7(a) minimum. They also need 10% equity that cannot be reduced. Initial acquisitions and business expansions at a $3,000,000 purchase price or more need a Quality of Earnings report. Seller debt counts as equity only on full standby and can supply at most half of required equity. Seller notes can be refinanced after 36 months, up from 24. A seller may stay as a consultant for up to 24 months, up from 12. A lender can issue a new SBA Express loan before amortization starts. The new loan can restart the revolving period or extend repayment up to 10 years. Non-SBA debt at the lender's own institution may now be refinanced under PLP delegated authority. Merchant cash advances can be refinanced only after conversion to a term loan amortized for at least 24 months. Factoring remains ineligible. The 504 minimum debt service coverage rose to 1.15:1 from 1:1. MARC loans must now revolve and opened to wholesalers and food supply chain businesses at up to $2,000,000. New text bars businesses where a minor child owns 20% or more and bars agents located outside the United States. Information Notice 5000-880695 announced the SOP.","who_it_affects":"You if you are applying for a 7(a) or 504 loan. That especially means buying a business, keeping an SBA Express line or refinancing a merchant cash advance. Also 7(a) lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/ownership-changes/; https://www.sbaexpress.loans/answers/equity-injection/; https://www.sbaexpress.loans/answers/sba-express/; https://www.sbaexpress.loans/answers/refinancing/; https://www.sbaexpress.loans/answers/504/; https://www.sbaexpress.loans/guides/business-acquisition-financing/; https://www.sbaexpress.loans/guides/seller-financing/; https://www.sbaexpress.loans/guides/getting-out-of-a-merchant-cash-advance/; https://www.sbaexpress.loans/sba-express-loan-requirements/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-08-14-sop-50-10-8-1"},{"date":"2026-08-14","title":"International Trade loans extended to mining and oil and gas businesses","document_type":"Policy Notice","document_number":"5000-881477","sba_url":"https://legacy.sba.gov/document/policy-notice-5000-881477-7a-international-trade-loan-program-industry-update-revision-policy-notice-5000-877629","effective":"2026-08-14","what_changed":"SBA added mining, quarrying and oil and gas extraction businesses to the industries it has found are hurt by import competition. They are NAICS sector 21, subsectors 211, 212 and 213. These businesses no longer need separate proof of injury to qualify under the import-competition test for an International Trade loan.","who_it_affects":"You if you run a small mining, quarrying or oil and gas business. Also 7(a) lenders offering International Trade loans.","pages_affected":"https://www.sbaexpress.loans/answers/caplines-and-export/; https://www.sbaexpress.loans/guides/export-financing/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-08-14-5000-881477"},{"date":"2026-05-28","title":"SBA allows waivers of the prior loss rule for minority investors","document_type":"Policy Notice","document_number":"5000-879464","sba_url":"https://legacy.sba.gov/document/policy-notice-5000-879464-prior-loss-rule-non-controlling-ownership-update","effective":"2026-06-01","what_changed":"SBA may now waive the prior loss rule case by case. The waiver is for an owner whose only tie to a defaulted SBA loan was a small passive stake. The owner must have held less than 20% of the business with the loss, not been a guarantor or co-borrower, and had no control. The waiver covers losses on 7(a) and 504 loans only, not PPP, COVID EIDL or other federal debt. Applicants with delinquent non-tax federal debt remain ineligible.","who_it_affects":"You if an owner of your business held a small passive stake in a business that defaulted on an SBA loan. Also lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/eligibility/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-05-28-5000-879464"},{"date":"2026-05-18","title":"SBA clarifies that 7(a) and 504 loan limits work separately","document_type":"Policy Notice","document_number":"5000-879058","sba_url":"https://legacy.sba.gov/document/policy-notice-5000-879058-coordination-7a-504-maximum-loan-limits","effective":"2026-07-04","what_changed":"A borrower's 7(a) balance, up to the 7(a) maximum, does not reduce the 504 program limit. A business can use both programs in sequence. SBA restated the 504 limit of $5,000,000 per business and affiliates. The limit is $5,500,000 per project for small manufacturers and eligible energy projects, with a $16,500,000 aggregate cap on energy projects. A 504 Project may also include several eligible assets financed at the same time.","who_it_affects":"You if you are combining 7(a) and 504 financing, or buying a facility and equipment together. Also 7(a) lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/504/; https://www.sbaexpress.loans/answers/use-of-proceeds/; https://www.sbaexpress.loans/compare-sba-loans/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-05-18-5000-879058"},{"date":"2026-04-14","title":"SBA lowers fiscal 2026 oversight fees for 7(a) lenders","document_type":"Information Notice","document_number":"5000-878182","sba_url":"https://legacy.sba.gov/document/information-notice-5000-878182-fy-2026-updated-fee-schedule-sba-oversight-7a-lenders","effective":"2026-04-14","what_changed":"SBA set its fiscal 2026 annual oversight fee at $128.19 per $1 million of outstanding 7(a) guaranty for all lenders. That is down from $131.60 for SBA-supervised lenders and $136.48 for federally regulated lenders. Delegated lenders pay $144.64 in total, down from $148.74 and $153.62.","who_it_affects":"7(a) lenders, who are billed for these fees.","pages_affected":"","permalink":"https://www.sbaexpress.loans/what-changed/#2026-04-14-5000-878182"},{"date":"2026-04-02","title":"SBA opens International Trade loans to import-affected manufacturers and food businesses","document_type":"Policy Notice","document_number":"5000-877629","sba_url":"https://legacy.sba.gov/document/policy-notice-5000-877629-7a-international-trade-loan-program-updates","effective":"2026-05-01","what_changed":"SBA found that manufacturers (NAICS 31-33) and listed food supply chain businesses are hurt by import competition. They no longer need separate proof of injury to qualify for an International Trade loan with its 90% guaranty. The notice also sets which changes of ownership qualify under the import-competition test. Proceeds can fund facilities, equipment and up to $2,000,000 of working capital.","who_it_affects":"You if you are a small manufacturer or food supply chain business facing import competition. Also 7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/answers/caplines-and-export/; https://www.sbaexpress.loans/guides/export-financing/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-04-02-5000-877629"},{"date":"2026-03-31","title":"SBA answers lender questions on the citizenship rule and SBSS sunset","document_type":"Information Notice","document_number":"5000-877673","sba_url":"https://legacy.sba.gov/document/information-notice-5000-877673-guidance-frequently-asked-questions-related-recent-sba-procedural-notices","effective":"2026-03-01","what_changed":"SBA clarified its March 2026 citizenship and underwriting changes in 11 questions and answers. An Ineligible Person may divest ownership before the SBA loan number is issued. A non-owner may still give a supplemental or limited guaranty unless in the U.S. illegally. Loans approved before March 1, 2026 can keep being serviced, but they cannot be increased if an owner is ineligible. Lenders may underwrite a loan of $350,000 or less under Standard 7(a) rules instead of 7(a) Small rules. On 7(a) Small loans, two months of bank activity or statements must confirm debts such as merchant cash advances.","who_it_affects":"You if your business has a non-citizen owner or guarantor, or you are applying for a 7(a) Small loan. Also 7(a) lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/eligibility/; https://www.sbaexpress.loans/answers/guarantees/; https://www.sbaexpress.loans/guides/business-credit-scores/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-03-31-5000-877673"},{"date":"2026-03-18","title":"SBA extends the owner date-of-birth requirement","document_type":"Procedural Notice","document_number":"5000-877472","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-877472-sba-procedural-notice-5000-877472-extension-date-birth-requirement","effective":"2026-03-18","what_changed":"SBA extended its temporary rule that lenders must enter the date of birth of every owner they list in SBA's E-Tran system. The rule stays in place until the 7(a) and 504 application process is updated.","who_it_affects":"7(a) lenders and CDCs, and you if you are an owner listed on an application.","pages_affected":"https://www.sbaexpress.loans/answers/documents/; https://www.sbaexpress.loans/loan-application-checklist/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-03-18-5000-877472"},{"date":"2026-02-20","title":"SBA sets the underwriting rules that replace the SBSS score","document_type":"Procedural Notice","document_number":"5000-876777","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-876777-sunset-sbss-score-supplemental-guidance","effective":"2026-03-01","what_changed":"For 7(a) Small loans approved on or after March 1, 2026, lenders must use their normal credit analysis instead of the SBSS score. Debt service coverage must be at least 1.10:1 on a historical or projected basis. Lenders must also review two months of commercial bank activity to confirm debts and obligations. A loan that misses the coverage test must go through Standard 7(a) or SBA Express procedures. This notice replaced the changes in Procedural Notice 5000-875701. SBA Express underwriting did not change.","who_it_affects":"You if you are applying for a 7(a) Small loan of $350,000 or less. Also 7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/answers/process/; https://www.sbaexpress.loans/guides/business-credit-scores/; https://www.sbaexpress.loans/guides/debt-service-coverage-explained/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-02-20-5000-876777"},{"date":"2026-02-11","title":"SBA issues procedures for its 100% citizen ownership requirement","document_type":"Procedural Notice","document_number":"5000-876626","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-876626-revised-applicant-ownership-citizenship-residency-requirements-7a-504-loans","effective":"2026-03-01","what_changed":"For 7(a) and 504 loans, all direct and indirect owners and required guarantors must be U.S. citizens or U.S. nationals. Their principal residence must be in the United States, its territories or possessions. Lawful permanent residents, people granted asylum or refugee status, visa holders and citizens of China or Hong Kong are Ineligible Persons. A business is ineligible if an Ineligible Person held ownership in the six months before the SBA loan number. The exception is when that person fully divests before the number is issued. Entities in the ownership chain must be organized in the United States, its territories or possessions. Lenders must collect new applicant certifications until Forms 1919 and 1244 are updated. The rules apply to delegated loans approved and non-delegated applications entering review on or after March 1, 2026.","who_it_affects":"You if your business has an owner or guarantor who is not a U.S. citizen or national, or who lives abroad. Also lenders and CDCs, which must certify ownership.","pages_affected":"https://www.sbaexpress.loans/answers/eligibility/; https://www.sbaexpress.loans/answers/guarantees/; https://www.sbaexpress.loans/answers/documents/; https://www.sbaexpress.loans/forms/sba-form-1919/; https://www.sbaexpress.loans/sba-express-loan-requirements/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-02-11-5000-876626"},{"date":"2026-02-06","title":"SBA adds SOFR and Treasury rates as 7(a) base rate options","document_type":"Procedural Notice","document_number":"5000-875051","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-875051-7a-alternative-base-rate-options","effective":"2026-03-01","what_changed":"SBA added three alternative base rates for variable-rate 7(a) loans: SOFR, the 5-year Treasury Note rate and the 10-year Treasury Note rate. The change was also published at 91 FR 5805. The all-in rate is still capped at Prime plus the allowed spread for the loan size. Loans using an alternative base rate cannot be sold on the secondary market for now. SBA also removed the 3-percentage-point SOFR add-on in the Working Capital Pilot guide.","who_it_affects":"You if you are choosing a variable rate on a 7(a) loan. Also 7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/rates/; https://www.sbaexpress.loans/answers/rates-and-fees/; https://www.sbaexpress.loans/loan-terms/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-02-06-5000-875051"},{"date":"2026-02-02","title":"SBA ends lawful permanent resident ownership of 7(a) and 504 borrowers","document_type":"Policy Notice","document_number":"5000-876441","sba_url":"https://legacy.sba.gov/document/policy-notice-5000-876441-update-sop-50-10-8-citizenship-residency-requirements-recission-procedural-notice-5000-872050","effective":"2026-03-01","what_changed":"Citing Executive Order 14159, SBA required that 100% of direct and indirect owners be U.S. citizens or U.S. nationals. Their principal residence must be in the United States, its territories or possessions. Lawful permanent residents may no longer own any percentage of an applicant. The notice also rescinded the December 2025 exception that allowed up to 5% foreign or offshore ownership.","who_it_affects":"You if an owner of your business is a lawful permanent resident, a foreign national or a U.S. citizen living abroad. Also lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/eligibility/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-02-02-5000-876441"},{"date":"2026-01-26","title":"SBA updates the 7(a) Working Capital Pilot guide","document_type":"Information Notice","document_number":"5000-873246","sba_url":"https://legacy.sba.gov/document/information-notice-5000-873246-update-7a-working-capital-pilot-program-guide","effective":"2026-01-26","what_changed":"SBA issued an updated program guide for the 7(a) Working Capital Pilot. Pilot lines can now support financial letters of credit such as warranty bonds. Lenders can charge the 2% extraordinary servicing fee when monitoring is outsourced to a third party. Renewals now count like new originations toward delegated pilot authority.","who_it_affects":"You if you use a 7(a) Working Capital Pilot line of credit. Also participating lenders.","pages_affected":"https://www.sbaexpress.loans/guides/business-line-of-credit/; https://www.sbaexpress.loans/sba-programs/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-01-26-5000-873246"},{"date":"2026-01-16","title":"SBA announces the end of the SBSS score for 7(a) Small loans","document_type":"Procedural Notice","document_number":"5000-875701","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-875701-sunset-sbss-score-7a-small-loans","effective":"2026-03-01","what_changed":"SBA announced that it would stop using the FICO Small Business Scoring Service score for 7(a) Small loans on March 1, 2026. Lenders would rely on their own credit analysis instead. Procedural Notice 5000-876777 replaced these procedures before they took effect.","who_it_affects":"You if you are applying for a 7(a) Small loan. Also 7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/guides/business-credit-scores/","permalink":"https://www.sbaexpress.loans/what-changed/#2026-01-16-5000-875701"},{"date":"2025-12-19","title":"SBA allows up to 5% foreign or offshore ownership, briefly","document_type":"Procedural Notice","document_number":"5000-872050","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-872050-procedural-notice-5000-872050-update-sop-50-10-8-citizenship-residency-requirements","effective":"2026-01-01","what_changed":"For applications approved from January 1, 2026, SBA let a small group of owners hold up to 5% of an applicant in total. The group was foreign nationals living abroad, conditional permanent residents, and U.S. citizens, nationals or permanent residents living abroad. U.S. citizens, nationals and lawful permanent residents living in the United States had to own the rest. SBA rescinded this exception effective March 1, 2026.","who_it_affects":"You if your business had a small foreign or offshore owner in early 2026. Also lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/eligibility/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-12-19-5000-872050"},{"date":"2025-09-30","title":"SBA revises SOP 50 10 8 with 7(a) and 504 program updates","document_type":"Procedural Notice","document_number":"5000-872764","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-872764-procedural-notice-5000-872764","effective":"2025-09-30","what_changed":"SBA updated SOP 50 10 8 after lender and CDC feedback. The new-business definition dropped the same-area test, so a same-NAICS business with identical ownership and co-borrowers counts as an expansion. A lender may sell a 7(a) loan on the secondary market once a required lien is filed. If the lien is never perfected, the lender risks losing the guaranty. For 504 projects, the construction contingency rose from 10% to 15%. Do-it-yourself construction can now be supported by one third-party estimate instead of two bids.","who_it_affects":"7(a) lenders and CDCs. You if you are building or renovating with a 504 loan or expanding into the same line of business.","pages_affected":"https://www.sbaexpress.loans/answers/504/; https://www.sbaexpress.loans/answers/collateral/; https://www.sbaexpress.loans/answers/ownership-changes/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-09-30-5000-872764"},{"date":"2025-09-30","title":"SBA raises the 504 job creation standard","document_type":"Federal Register Notice","document_number":"90 FR 47117","sba_url":"https://www.govinfo.gov/content/pkg/FR-2025-09-30/pdf/2025-19072.pdf","effective":"2025-10-01","what_changed":"For 504 loans approved on or after October 1, 2025, each project must create or retain one job per $95,000 guaranteed, up from $90,000. For small manufacturers and energy public policy projects the figure is one job per $150,000, up from $140,000. CDC portfolios may average up to $150,000 per job under other economic development goals. The same applies to projects in places such as Alaska, Hawaii and Opportunity Zones.","who_it_affects":"You if you are a 504 borrower. Also CDCs, which track job figures across their portfolios.","pages_affected":"https://www.sbaexpress.loans/answers/504/; https://www.sbaexpress.loans/sba-programs/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-09-30-90-fr-47117"},{"date":"2025-09-25","title":"SBA issues SOP 50 57 4 for 7(a) loan servicing and liquidation","document_type":"SOP","document_number":"SOP 50 57 4","sba_url":"https://legacy.sba.gov/document/sop-50-57-7a-loan-servicing-liquidation","effective":"2025-11-01","what_changed":"SOP 50 57 4 replaced SOP 50 57 3.1 for servicing and liquidation actions on or after November 1, 2025 (Information Notice 5000-872353). It raised the personal property liquidation value threshold for certain actions from $5,000 to $10,000 and added an SBA Uncollectible loan status. New obligors must meet the current citizenship rules. Loans are now serviced from the Fresno center or the Herndon guaranty purchase center after the Little Rock center closed.","who_it_affects":"7(a) lenders, and you if your 7(a) loan is in servicing or liquidation.","pages_affected":"https://www.sbaexpress.loans/answers/after-closing/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-09-25-sop-50-57-4"},{"date":"2025-09-15","title":"SBA adds environmental and ALP Express oversight to SOP 50 56","document_type":"Procedural Notice","document_number":"5000-869245","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-869245-procedural-notice-5000-869245","effective":"2025-09-15","what_changed":"SBA revised SOP 50 56 so that 7(a) lenders and CDCs must give SBA their environmental review and approval documentation for oversight. It also added the ALP Express corporate governance and review standards to the SOP.","who_it_affects":"7(a) lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/process/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-09-15-5000-869245"},{"date":"2025-09-04","title":"SBA launches MARC loans for manufacturers","document_type":"Procedural Notice","document_number":"5000-870260","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-870260-7a-manufacturers-access-revolving-credit-marc-loans","effective":"2025-10-01","what_changed":"SBA created 7(a) Manufacturers' Access to Revolving Credit (MARC) loans for NAICS 31-33 manufacturers, available October 1, 2025. Loans go up to $5,000,000, with an 85% guaranty at $150,000 or less and 75% above that. Revolving loans can run 20 years and term loans 10 years. Lenders review financials annually and may charge up to 0.50% at that review. SOP 50 10 8.1 later required these loans to be revolving and raised the coverage test.","who_it_affects":"You if you are a small manufacturer needing working capital. Also 7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/sba-programs/; https://www.sbaexpress.loans/guides/working-capital-loans/; https://www.sbaexpress.loans/guides/business-line-of-credit/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-09-04-5000-870260"},{"date":"2025-08-28","title":"SBA sets fiscal year 2026 7(a) fees and waives the upfront fee for manufacturers","document_type":"Information Notice","document_number":"5000-872051","sba_url":"https://legacy.sba.gov/document/information-notice-5000-872051-7a-fees-effective-october-1-2025-fiscal-year-2026","effective":"2025-10-01","what_changed":"The fiscal 2026 upfront fee is 0% on 7(a) loans of $950,000 or less to manufacturers (NAICS 31-33), other than MARC loans. Fiscal 2026 covers loans approved October 1, 2025 through September 30, 2026. Other upfront fees on the guaranteed portion are 2% at $150,000 or less and 3% from $150,001 to $700,000. Larger loans pay 3.5% up to $1,000,000 plus 3.75% above that. The annual service fee is 0.55% of the guaranteed balance. SBA also clarified how the 90-day rule treats Working Capital Pilot and export working capital loans.","who_it_affects":"You if you are a 7(a) borrower, especially a manufacturer. Also 7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/answers/rates-and-fees/; https://www.sbaexpress.loans/loan-terms/; https://www.sbaexpress.loans/sba-guaranty-fee-calculator/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-08-28-5000-872051"},{"date":"2025-08-28","title":"SBA sets fiscal year 2026 504 fees and waives them for manufacturers","document_type":"Information Notice","document_number":"5000-871532","sba_url":"https://legacy.sba.gov/document/information-notice-5000-871532-504-fees-fiscal-year-2026","effective":"2025-10-01","what_changed":"For 504 loans approved October 1, 2025 through September 30, 2026, the upfront and annual service fees are waived for manufacturers (NAICS 31-33). Other 504 loans pay an upfront fee of 0.50% and an annual service fee of 0.209% of the outstanding balance. 504 Debt Refinance without Expansion loans pay an annual fee of 0.2115%.","who_it_affects":"You if you are a 504 borrower, especially a manufacturer. Also CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/504/; https://www.sbaexpress.loans/answers/rates-and-fees/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-08-28-5000-871532"},{"date":"2025-06-18","title":"SBA renews Form 1253, the CDC annual report","document_type":"Information Notice","document_number":"5000-869194","sba_url":"https://legacy.sba.gov/document/information-notice-5000-869194-information-notice-5000-869194","effective":"2025-06-18","what_changed":"SBA issued a redesigned CDC Annual Report Guide with a simplified Economic Development Report and a renamed Job Opportunity Analysis Report. CDCs must file within 180 days of their fiscal year end.","who_it_affects":"Certified Development Companies.","pages_affected":"","permalink":"https://www.sbaexpress.loans/what-changed/#2025-06-18-5000-869194"},{"date":"2025-06-13","title":"SBA reissues Form 413 and sets a 120-day freshness rule","document_type":"Information Notice","document_number":"5000-868123","sba_url":"https://legacy.sba.gov/document/information-notice-5000-868123-information-notice-5000-868123","effective":"2025-06-13","what_changed":"SBA issued a revised Form 413, Personal Financial Statement. For 7(a) and 504 loans, the information must be current within 120 days of submission. SBA still accepts a lender's equivalent form that collects the same data. After 60 days, SBA accepts only the renewed version.","who_it_affects":"You if you are an owner or guarantor completing a personal financial statement. Also lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/forms/sba-form-413/; https://www.sbaexpress.loans/answers/documents/; https://www.sbaexpress.loans/loan-application-checklist/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-06-13-5000-868123"},{"date":"2025-06-02","title":"SBA cuts fiscal 2025 oversight fees for 7(a) lenders","document_type":"Information Notice","document_number":"5000-869173","sba_url":"https://legacy.sba.gov/document/information-notice-5000-869173-fy-2025-updated-fee-schedule-sba-oversight-7a-lenders","effective":"2025-06-02","what_changed":"SBA lowered its fiscal 2025 annual oversight fee to $131.60 per $1 million of outstanding guaranty for SBA-supervised lenders. Federally regulated lenders pay $136.48. Those fees are down from $183.47 and $188.44. Delegated lenders pay $148.74 and $153.62 in total.","who_it_affects":"7(a) lenders, who are billed for these fees.","pages_affected":"","permalink":"https://www.sbaexpress.loans/what-changed/#2025-06-02-5000-869173"},{"date":"2025-05-29","title":"SBA issues technical updates to SOP 50 10 8 before it takes effect","document_type":"Information Notice","document_number":"5000-868665","sba_url":"https://legacy.sba.gov/document/information-notice-5000-868665-issuance-sop-50-10-8-technical-updates","effective":"2025-06-01","what_changed":"SBA replaced the April version of SOP 50 10 8 days before its June 1, 2025 effective date. Partial sellers who keep less than 20% must give a full guaranty for at least two years. Vehicles worth $20,000 or less, or already liened, need no lien. All 7(a) term loans may start with an interest-only period. Lenders must enter 100% of direct and indirect owners in SBA's E-Tran system and check CAIVRS. Search-fund deals that give a non-guarantor investor control are ineligible, and equity repayable before the guaranty is released counts as debt.","who_it_affects":"You if you are selling part of a business, buying with investor money, or pledging vehicles. Also lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/ownership-changes/; https://www.sbaexpress.loans/answers/guarantees/; https://www.sbaexpress.loans/answers/collateral/; https://www.sbaexpress.loans/answers/equity-injection/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-05-29-5000-868665"},{"date":"2025-05-05","title":"SBA resets rules for Community Advantage small business lending companies","document_type":"Policy Notice","document_number":"5000-868068","sba_url":"https://legacy.sba.gov/document/policy-notice-5000-868068-policy-updates-regarding-community-advantage-small-business-lending-companies-ca-sblcs-participation","effective":"2025-05-05","what_changed":"SBA capped loans by Community Advantage small business lending companies at $350,000, below the $500,000 ceiling it announced in December 2024. At least 60% of the number of loans closed must meet underserved market requirements. Capital minimums rise to $375,000 on May 15, 2025 and $750,000 on May 15, 2026, or 10% of outstanding loans if greater. These are licensed lenders; the Community Advantage pilot ended October 31, 2023.","who_it_affects":"Community Advantage small business lending companies, and you if you borrow from one.","pages_affected":"https://www.sbaexpress.loans/sba-programs/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-05-05-5000-868068"},{"date":"2025-04-22","title":"SBA issues SOP 50 10 8, restoring tighter 7(a) underwriting","document_type":"SOP","document_number":"SOP 50 10 8","sba_url":"https://legacy.sba.gov/document/sop-50-10-lender-development-company-loan-programs","effective":"2025-06-01","what_changed":"SBA said SOP 50 10 8, effective June 1, 2025, largely restored rules in place before January 2021 (Information Notice 5000-866746). The SBA Franchise Directory returned, and lenders must again weigh the liquidity of 20% owners when deciding credit is not available elsewhere. The 7(a) Small ceiling fell to $350,000 from $500,000, and the minimum SBSS score rose to 165 from 155. Standard 7(a) and 7(a) Small start-ups need at least 10% equity. On a complete change of ownership, seller debt counts toward the 10% only on full standby for the life of the loan. Seller debt cannot exceed half of the required equity. Merchant cash advances and factoring became ineligible for refinancing. 7(a) Small loans above $50,000 need a first lien on financed assets.","who_it_affects":"You if you are starting or buying a business, have a franchise, or carry a merchant cash advance. Also lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/equity-injection/; https://www.sbaexpress.loans/answers/ownership-changes/; https://www.sbaexpress.loans/answers/refinancing/; https://www.sbaexpress.loans/answers/collateral/; https://www.sbaexpress.loans/franchises/; https://www.sbaexpress.loans/guides/franchise-financing/; https://www.sbaexpress.loans/guides/seller-financing/; https://www.sbaexpress.loans/loan-for-startup-business/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-04-22-sop-50-10-8"},{"date":"2025-04-15","title":"SBA changes which SOP governs guaranty purchase reviews","document_type":"Procedural Notice","document_number":"5000-866946","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-866946-revisions-sop-50-57-31","effective":"2025-04-15","what_changed":"When a lender seeks the guaranty, SBA now applies the SOP 50 10 in effect at loan approval for loan making and closing issues. Servicing actions after full disbursement follow the SOP 50 57 in effect at that time. On early defaults, lenders must show that any required equity injection came from an acceptable source.","who_it_affects":"7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/answers/after-closing/; https://www.sbaexpress.loans/answers/equity-injection/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-04-15-5000-866946"},{"date":"2025-03-28","title":"SBA updates Form 1244 for 504 loans","document_type":"Information Notice","document_number":"5000-865664","sba_url":"https://legacy.sba.gov/document/information-notice-5000-865664-sba-information-notice-5000-865664","effective":"2025-03-28","what_changed":"SBA revised Form 1244 in response to Executive Order 14168. It replaced gender with sex and removed the Not Disclosed option in the voluntary demographic section. SBA also merged the two debt refinancing purpose categories into one and removed the Associate signature block.","who_it_affects":"You if you are a 504 applicant completing Form 1244. Also CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/504/; https://www.sbaexpress.loans/answers/documents/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-03-28-5000-865664"},{"date":"2025-03-26","title":"SBA requires owner dates of birth in E-Tran","document_type":"Procedural Notice","document_number":"5000-866498","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-866498-sba-procedural-notice-5000-866498","effective":"2025-03-27","what_changed":"Starting March 27, 2025, lenders must enter every listed owner's date of birth in SBA's E-Tran system until the application forms are updated. SBA extended this requirement on March 18, 2026.","who_it_affects":"7(a) lenders and CDCs, and you if you are an owner listed on an application.","pages_affected":"https://www.sbaexpress.loans/answers/documents/; https://www.sbaexpress.loans/loan-application-checklist/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-03-26-5000-866498"},{"date":"2025-03-24","title":"SBA reinstates 7(a) fees partway through fiscal year 2025","document_type":"Information Notice","document_number":"5000-865775","sba_url":"https://legacy.sba.gov/document/information-notice-5000-865775-sba-information-notice-5000-865775","effective":"2025-03-27","what_changed":"SBA replaced its fiscal 2025 fee schedule for 7(a) loans approved from March 27, 2025 through September 30, 2025. Upfront fees on the guaranteed portion returned at 2% for loans of $150,000 or less and 3% from $150,001 to $700,000. Larger loans pay 3.5% up to $1,000,000 plus 3.75% above that. Loans of 12 months or less pay 0.25%, and the annual service fee rose to 0.55% of the guaranteed balance. SBA Express loans to veteran-owned businesses kept a $0 upfront fee. Non-delegated applications already in review by March 26, 2025 kept the earlier fee relief.","who_it_affects":"You if you are a 7(a) borrower. Also 7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/answers/rates-and-fees/; https://www.sbaexpress.loans/loan-terms/; https://www.sbaexpress.loans/sba-guaranty-fee-calculator/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-03-24-5000-865775"},{"date":"2025-03-20","title":"SBA streamlines environmental reviews on non-delegated loans","document_type":"Procedural Notice","document_number":"5000-866054","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-866054-sba-procedural-notice-5000-866054","effective":"2025-03-20","what_changed":"When a report finds no contamination on a non-delegated 7(a) or 504 loan, the lender certifies this in E-Tran and keeps the report. Where contamination is found, lenders follow SBA's review steps and appeal process. Environmental reports must be dated within one year of the SBA loan number on all loans.","who_it_affects":"7(a) lenders and CDCs, and you if real estate secures your SBA loan.","pages_affected":"https://www.sbaexpress.loans/answers/real-estate/; https://www.sbaexpress.loans/answers/process/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-03-20-5000-866054"},{"date":"2025-03-19","title":"SBA updates Form 1919 demographic questions","document_type":"Information Notice","document_number":"5000-865585","sba_url":"https://legacy.sba.gov/document/information-notice-5000-865585-sba-information-notice-5000-865585","effective":"2025-03-19","what_changed":"SBA revised Form 1919, the 7(a) borrower form, in response to Executive Order 14168. It replaced gender with sex and removed the Not Disclosed option in the voluntary demographic section. The form is dated February 2025.","who_it_affects":"You if you are a 7(a) applicant completing Form 1919. Also 7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/forms/sba-form-1919/; https://www.sbaexpress.loans/answers/documents/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-03-19-5000-865585"},{"date":"2025-03-14","title":"SBA rescinds higher loan ceilings for Community Advantage SBLCs","document_type":"Procedural Notice","document_number":"5000-865355","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-865355-rescission-sba-procedural-notice-5000-864101","effective":"2025-03-14","what_changed":"SBA rescinded Procedural Notice 5000-864101, which had let Community Advantage SBLCs apply for loan ceilings above $500,000 and up to $2,000,000.","who_it_affects":"Community Advantage small business lending companies.","pages_affected":"https://www.sbaexpress.loans/sba-programs/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-03-14-5000-865355"},{"date":"2025-03-07","title":"SBA tightens ownership certification under Executive Order 14159","document_type":"Policy Notice","document_number":"5000-865754","sba_url":"https://legacy.sba.gov/document/policy-notice-5000-865754-policy-updates-comply-executive-order-14159-regarding-citizenship-requirements-obtaining-7a-504","effective":"2025-03-07","what_changed":"SBA barred businesses owned in whole or part by people in the U.S. illegally. Lenders must list at least 81% of beneficial owners in E-Tran and certify that none is an ineligible person. Ineligible persons included foreign nationals, those granted asylum, refugees, visa holders and DACA recipients. Lawful permanent residents remained eligible at that time. Borrowers must certify this on Forms 1919 and 1244.","who_it_affects":"You if your business has an owner who is not a U.S. citizen. Also lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/eligibility/; https://www.sbaexpress.loans/forms/sba-form-1919/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-03-07-5000-865754"},{"date":"2025-01-15","title":"SBA lets Community Advantage SBLCs seek loan ceilings up to $2,000,000","document_type":"Procedural Notice","document_number":"5000-864101","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-864101-ca-sblc-requests-increase-7a-loan-size","effective":"2025-01-15","what_changed":"SBA said approved Community Advantage SBLCs could request loan ceilings of $1,000,000, or $2,000,000 for climate-related projects. SBA rescinded this notice on March 14, 2025.","who_it_affects":"Community Advantage small business lending companies.","pages_affected":"https://www.sbaexpress.loans/sba-programs/","permalink":"https://www.sbaexpress.loans/what-changed/#2025-01-15-5000-864101"},{"date":"2024-12-18","title":"SBA makes ALP Express permanent for small 504 loans","document_type":"Final Rule","document_number":"89 FR 102697","sba_url":"https://www.govinfo.gov/content/pkg/FR-2024-12-18/pdf/2024-29706.pdf","effective":"2025-01-17","what_changed":"SBA made permanent the delegated authority that lets Accredited Lenders Program CDCs make the credit decision on 504 loans of $500,000 or less. SBA still reviews each loan's eligibility. The pilot had been set to expire September 30, 2025.","who_it_affects":"CDCs in the Accredited Lenders Program, and you if you borrow through one on a 504 loan of $500,000 or less.","pages_affected":"https://www.sbaexpress.loans/answers/504/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-12-18-89-fr-102697"},{"date":"2024-12-17","title":"SBA raises the Community Advantage SBLC loan ceiling to $500,000","document_type":"Information Notice","document_number":"5000-860909","sba_url":"https://legacy.sba.gov/document/information-notice-5000-860909-ca-sblc-requests-increase-7a-loan-size-or-geographic-lending-territory","effective":"2025-01-01","what_changed":"From January 1, 2025, SBA said qualifying Community Advantage SBLCs could make 7(a) loans up to $500,000, up from $350,000. They could also apply to lend in additional states. SBA set the ceiling back at $350,000 in May 2025.","who_it_affects":"Community Advantage small business lending companies.","pages_affected":"https://www.sbaexpress.loans/sba-programs/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-12-17-5000-860909"},{"date":"2024-12-06","title":"SBA extends SOP notices and allows merchant cash advance refinancing","document_type":"Procedural Notice","document_number":"5000-862692","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-862692-extension-rescission-notices-previously-published-procedural-updates-sop-50-10-71-sop-50-55","effective":"2024-12-06","what_changed":"SBA extended several 2023 and 2024 notices and made new changes to SOP 50 10 7.1. Merchant cash advances, factoring agreements and non-amortizing credit could be refinanced without the 10% payment reduction test. All changes of ownership could use a blended maturity, or up to 25 years if 51% or more of proceeds are for real estate. On Standard 7(a) loans, lenders no longer had to lien vehicles worth $10,000 or less. Both 7(a) and 504 loans can be used with C-PACE financing. SOP 50 10 8 later barred the merchant cash advance refinancing and multi-step partial buyouts this notice allowed.","who_it_affects":"You if you carry a merchant cash advance, are buying a business, or have C-PACE financing. Also lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/refinancing/; https://www.sbaexpress.loans/answers/ownership-changes/; https://www.sbaexpress.loans/answers/collateral/; https://www.sbaexpress.loans/answers/504/; https://www.sbaexpress.loans/guides/getting-out-of-a-merchant-cash-advance/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-12-06-5000-862692"},{"date":"2024-10-23","title":"SBA issues a new Form 1244 for 504 loans","document_type":"Information Notice","document_number":"5000-861002","sba_url":"https://legacy.sba.gov/document/information-notice-5000-861002-sba-information-notice-5000-861002","effective":"2024-10-23","what_changed":"SBA issued a new Form 1244 to match SOP 50 10 7.1 and the criminal justice rule. Applicants must identify beneficial owners of at least 20% and at least 51% of total beneficial ownership. The form is split into borrower and CDC parts and adds questions on fees and ineligible business types.","who_it_affects":"You if you are a 504 applicant. Also CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/504/; https://www.sbaexpress.loans/answers/documents/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-10-23-5000-861002"},{"date":"2024-10-01","title":"SBA expands 504 debt refinancing","document_type":"Direct Final Rule","document_number":"89 FR 79734","sba_url":"https://www.govinfo.gov/content/pkg/FR-2024-10-01/pdf/2024-22040.pdf","effective":"2024-11-15","what_changed":"SBA removed the 50% cap on 504 debt refinancing without expansion. Refinance projects that include other business expenses can reach 90% loan to value, and the separate cap on those expenses is gone. Refinancing with expansion now uses the same 75% substantially-all test as refinancing without expansion. SBA dropped the 10% payment reduction test on refinancing other government debt and allowed certain other secured debt as an eligible expense. Procedural Notice 5000-857295 updated SOP 50 10 7.1 to match.","who_it_affects":"You if you are refinancing owner-occupied real estate or equipment debt with a 504 loan. Also CDCs and Third Party Lenders.","pages_affected":"https://www.sbaexpress.loans/answers/504/; https://www.sbaexpress.loans/answers/refinancing/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-10-01-89-fr-79734"},{"date":"2024-09-17","title":"SBA issues SOP 50 57 3.1 for 7(a) servicing","document_type":"Information Notice","document_number":"5000-856113","sba_url":"https://legacy.sba.gov/document/information-notice-5000-856113-issuance-sop-50-57-31","effective":"2024-12-01","what_changed":"SBA issued technical corrections to its 7(a) servicing and liquidation SOP, effective December 1, 2024. The changes include where lenders send servicing requests on loans of $500,000 or less. They also cover litigation plans, equity injection review at guaranty purchase and a five-year PPP forgiveness deadline.","who_it_affects":"7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/answers/after-closing/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-09-17-5000-856113"},{"date":"2024-08-16","title":"SBA loosens a 7(a) secondary market pooling rule","document_type":"Federal Register Notice","document_number":"89 FR 66750","sba_url":"https://www.govinfo.gov/content/pkg/FR-2024-08-16/pdf/2024-18377.pdf","effective":"2024-10-01","what_changed":"For 7(a) loan pools issued on or after October 1, 2024, SBA cut the minimum maturity ratio by 3 percentage points to 89.0%. The change covers Standard and Weighted-Average Coupon pools.","who_it_affects":"Pool assemblers, investors and 7(a) lenders that sell guaranteed portions of loans.","pages_affected":"","permalink":"https://www.sbaexpress.loans/what-changed/#2024-08-16-89-fr-66750"},{"date":"2024-08-09","title":"SBA opens license windows for new small business lending companies","document_type":"Federal Register Notice","document_number":"89 FR 65174","sba_url":"https://www.govinfo.gov/content/pkg/FR-2024-08-09/pdf/2024-17644.pdf","effective":"2024-08-01","what_changed":"SBA accepted applications for new Small Business Lending Company licenses from September 2 to October 15, 2024. Applications for Community Advantage SBLC licenses ran from September 2 to December 20, 2024.","who_it_affects":"Non-bank companies seeking to make SBA 7(a) loans.","pages_affected":"","permalink":"https://www.sbaexpress.loans/what-changed/#2024-08-09-89-fr-65174"},{"date":"2024-07-23","title":"SBA sets fiscal year 2025 7(a) fees","document_type":"Information Notice","document_number":"5000-858936","sba_url":"https://legacy.sba.gov/document/information-notice-5000-858936-7a-fees-effective-october-1-2024-fiscal-year-2025","effective":"2024-10-01","what_changed":"For 7(a) loans approved from October 1, 2024, loans of $1,000,000 or less with terms over 12 months paid no upfront fee. Larger loans paid 3.5% of the guaranteed portion up to $1,000,000 plus 3.75% above that. Annual service fees were 0% at $500,000 or less, 0.17% from $500,001 to $1,000,000, and 0.55% above that. SBA replaced this schedule for loans approved from March 27, 2025.","who_it_affects":"You if you took a 7(a) loan in fiscal 2025. Also 7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/answers/rates-and-fees/; https://www.sbaexpress.loans/loan-terms/; https://www.sbaexpress.loans/sba-guaranty-fee-calculator/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-07-23-5000-858936"},{"date":"2024-07-23","title":"SBA sets fiscal year 2025 504 fees","document_type":"Information Notice","document_number":"5000-859701","sba_url":"https://legacy.sba.gov/document/information-notice-5000-859701-504-fees-effective-during-fiscal-year-2025","effective":"2024-10-01","what_changed":"For 504 loans approved October 1, 2024 through September 30, 2025, the upfront fee was 0%. The annual service fee was 0.331% of the outstanding balance, or 0.356% for 504 Debt Refinance without Expansion loans.","who_it_affects":"You if you took a 504 loan in fiscal 2025. Also CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/504/; https://www.sbaexpress.loans/answers/rates-and-fees/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-07-23-5000-859701"},{"date":"2024-07-23","title":"SBA sets fees for the 7(a) Working Capital Pilot","document_type":"Information Notice","document_number":"5000-859410","sba_url":"https://legacy.sba.gov/document/information-notice-5000-859410-7a-working-capital-pilot-fees-fiscal-years-2024-2025","effective":"2024-07-23","what_changed":"Working Capital Pilot loans of $1,000,000 or less paid no upfront fee in fiscal 2024 or 2025. Larger loans paid from 0.25% of the guaranteed portion for maturities up to 12 months to 1.35% for 49 to 60 months. The pilot opened August 1, 2024. SBA replaced these fees in March 2025.","who_it_affects":"You if you took a Working Capital Pilot line before March 2025. Also participating lenders.","pages_affected":"https://www.sbaexpress.loans/answers/rates-and-fees/; https://www.sbaexpress.loans/guides/business-line-of-credit/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-07-23-5000-859410"},{"date":"2024-07-15","title":"SBA launches the 7(a) Working Capital Pilot","document_type":"Federal Register Notice","document_number":"89 FR 57353","sba_url":"https://www.govinfo.gov/content/pkg/FR-2024-07-15/pdf/2024-15313.pdf","effective":"2024-08-01","what_changed":"SBA created a pilot running August 1, 2024 through July 31, 2027 for 7(a) lines of credit up to $5,000,000. The lines support domestic and international transactions. Terms run up to 60 months, with an 85% guaranty at $150,000 or less and 75% above. Fees are based on how long the line runs.","who_it_affects":"You if you need an asset-based or transaction-based line of credit. Also 7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/guides/business-line-of-credit/; https://www.sbaexpress.loans/guides/working-capital-loans/; https://www.sbaexpress.loans/sba-programs/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-07-15-89-fr-57353"},{"date":"2024-07-12","title":"SBA updates Form 1919 after the criminal justice rule","document_type":"Information Notice","document_number":"5000-857390","sba_url":"https://legacy.sba.gov/document/information-notice-5000-857390-sba-form-1919-update-criminal-justice-reviews-final-rule","effective":"2024-07-12","what_changed":"SBA revised Form 1919 to match the criminal justice rule, including Question 4 on incarceration and indictment. It also added a borrower certification letting SBA share information about existing SBA loans with the lender. Lenders had a 30-day grace period.","who_it_affects":"You if you are a 7(a) applicant. Also 7(a) lenders.","pages_affected":"https://www.sbaexpress.loans/forms/sba-form-1919/; https://www.sbaexpress.loans/answers/eligibility/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-07-12-5000-857390"},{"date":"2024-06-24","title":"SBA eases cooperative and ESOP loan processing","document_type":"Procedural Notice","document_number":"5000-858322","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-858322-7a-504-loans-cooperatives-valuation-requirements-7a-loans-esops-changes-ownership","effective":"2024-06-24","what_changed":"Lenders may use delegated authority for loans to cooperatives and to businesses a cooperative owns or controls. An independent business valuation is no longer required on 7(a) ESOP change-of-ownership loans; the lender may use the ESOP's own ERISA-compliant valuation.","who_it_affects":"You if you run a cooperative or are selling to an ESOP. Also lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/ownership-changes/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-06-24-5000-858322"},{"date":"2024-05-02","title":"SBA narrows fingerprint checks for CDC staff","document_type":"Procedural Notice","document_number":"5000-856893","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-856893-update-sop-50-56-1-related-form-1081-cdc-character-determinations","effective":"2024-05-02","what_changed":"CDC managers, officers, board members and certain staff need an FBI fingerprint check only if they answer yes to specific Form 1081 questions.","who_it_affects":"Certified Development Companies and their personnel.","pages_affected":"","permalink":"https://www.sbaexpress.loans/what-changed/#2024-05-02-5000-856893"},{"date":"2024-04-30","title":"SBA narrows the criminal background bar for 7(a) and 504 loans","document_type":"Final Rule","document_number":"89 FR 34094","sba_url":"https://www.govinfo.gov/content/pkg/FR-2024-04-30/pdf/2024-09009.pdf","effective":"2024-05-30","what_changed":"A business is now ineligible only if an associate is currently incarcerated or serving a sentence of imprisonment. An associate under indictment for a felony or a crime involving financial misconduct or false statements also disqualifies the business. Probation and parole no longer disqualify on their own. Procedural Notice 5000-857477 updated SOP 50 10 7.1 to match. Lenders may still apply their own background policies.","who_it_affects":"You if an associate of your business has a criminal history record. Also lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/eligibility/; https://www.sbaexpress.loans/sba-express-loan-requirements/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-04-30-89-fr-34094"},{"date":"2024-04-30","title":"SBA removes the $16.5 million cap on 504 energy projects","document_type":"Procedural Notice","document_number":"5000-856984","sba_url":"https://legacy.sba.gov/document/procedural-notice-5000-856984-504-program-updates-sop-50-10-71-removing-cap-energy-public-policy-projects-extensions-debenture","effective":"2024-04-30","what_changed":"SBA removed the $16,500,000 aggregate cap on 504 Energy Public Policy Projects from SOP 50 10 7.1. SOP 50 10 8 later restated that limit, and Policy Notice 5000-879058 still states it. SBA's Sacramento center can also decide extensions of the 48-month disbursement period unless referral to SBA's Office of Financial Assistance is warranted.","who_it_affects":"You if you are financing an energy project with a 504 loan. Also CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/504/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-04-30-5000-856984"},{"date":"2024-04-05","title":"SBA updates fiscal 2024 oversight fees for 7(a) lenders","document_type":"Information Notice","document_number":"5000-854476","sba_url":"https://legacy.sba.gov/document/information-notice-5000-854476-fy-2024-updated-fee-schedule-sba-oversight-7a-lenders","effective":"2024-04-05","what_changed":"SBA set its fiscal 2024 annual oversight fee at $183.47 per $1 million of outstanding guaranty for SBA-supervised lenders. Federally regulated lenders pay $188.44. Both are slightly above the prior fees.","who_it_affects":"7(a) lenders, who are billed for these fees.","pages_affected":"","permalink":"https://www.sbaexpress.loans/what-changed/#2024-04-05-5000-854476"},{"date":"2024-03-07","title":"SBA revises its Lender Risk Rating System","document_type":"Federal Register Notice","document_number":"89 FR 16604","sba_url":"https://www.govinfo.gov/content/pkg/FR-2024-03-07/pdf/2024-04830.pdf","effective":"2024-03-07","what_changed":"SBA rebuilt how it assigns each 7(a) lender and CDC a risk rating from 1 to 5. The new method uses loan-level default models and a projected purchase rate for each portfolio. SBA uses the ratings to focus its oversight.","who_it_affects":"7(a) lenders and CDCs.","pages_affected":"","permalink":"https://www.sbaexpress.loans/what-changed/#2024-03-07-89-fr-16604"},{"date":"2024-02-15","title":"SBA raises the alternative size standard for 7(a) and 504 loans","document_type":"Final Rule","document_number":"89 FR 11703","sba_url":"https://www.govinfo.gov/content/pkg/FR-2024-02-15/pdf/2024-02776.pdf","effective":"2024-03-18","what_changed":"SBA made the alternative size standard permanent and raised it for inflation. A business and its affiliates can now qualify with tangible net worth of no more than $20 million, raised from $15 million. Average net income cannot exceed $6.5 million, raised from $5 million. Applicants may use whichever size test helps them. Procedural Notice 5000-855070 updated SOP 50 10 7.1 to match.","who_it_affects":"You if your business is near the size limit for its industry. Also lenders and CDCs.","pages_affected":"https://www.sbaexpress.loans/answers/eligibility/; https://www.sbaexpress.loans/sba-express-loan-requirements/","permalink":"https://www.sbaexpress.loans/what-changed/#2024-02-15-89-fr-11703"}]}}