CREDIT ELSEWHERE TEST ELIMINATED FOR LESS THAN 20% OWNERSHIP

CREDIT ELSEWHERE TEST ELIMINATED FOR LESS THAN 20% OWNERSHIP

SBA Policy Notice 5000-17057 effective 4/3/2018 for 7(a) and 504 loans, eliminates the Credit Elsewhere Test for those owning less than 20% of a business applicant and provides guidance on other provisions of SOP 50 10 5 (J).

2018-04-26T19:18:13+00:00