FY 2024 LSA List: Come and Get It! Hot off the presses ... JRB Senior Associate Richard Jeffrey answers lender LSA questions -- and will send you a copy of the List. Just email him. He's standing by.
They’re here! SBA Information Notice 5000-849342 announces the FY 2024 Annual Service Fee (the Ongoing Guaranty Fee) and the Upfront Guaranty Fee for 504 loans approved October 1, 2023-September 30, 2024. Good news: The Annual Service Fees for regular loans and for Debt Refinance without Expansion Loans have decreased from FY 2023.
As we wait for the long awaited technical updates to SOP 50 10 7, we’ve been relying on the 5/10/2023 version. And we’ve been making do, taking the still applicable parts of SOP 50 10 6, supplementing them with SBA policy notices, and checking with our new friend Mr. Do-What-You-Do. While the industry is mostly aware […]
Each year the U.S. Department of Labor issues its list of Labor Surplus Areas (LSA’s). These are states, counties or municipalities with a two-year unemployment rate higher than an annually established threshold. The determination is effective October 1 of each year. If an area is on the list, it’s an LSA. If not, it’s not. The […]
Hey, 7(a) Lenders! JRB Senior Associate Richard Jeffrey gives you an overview of 7(a) fees for FY 2024.
What’s that definition of insanity? “Doing the same thing over and over again but expecting different results.” That statement is attributed to Albert Einstein. I read the other day that Einstein never said it. Well, not exactly. Since the attribution is repeated over and over again, insanity might be crediting that quote to Einstein over and […]
Good news for startups! JRB
When is a "smashingly good idea" not as easy as it sounds? JRB Senior Associate Richard Jeffrey clues you in.
If you have ever studied Philosophy, you have run into Diogenes. Even if Philosophy wasn’t in your study plan, chances are you’ve seen paintings depicting Diogenes as an older man, holding a lantern as he searched for an honest man. Story is that he never did find one. I guess the lantern was no help. I […]
It's only 13 years in the making! JRB Senior Associate Richard Jeffrey sizes up SBA's Proposed Rule to change the alternative size standard for 7(a) and 504 loans.
