The SBA has issued the new Standard Operating Procedure (SOP) 50 10 6, Lender and Development Company Loan Programs, effective October 1, 2020. This updated SOP provides additional guidance and incorporates revisions to conform to changes in SBA regulations and loan program requirements, and contains significant format and navigational enhancements.
SOP 50 10 6 will become effective October 1, 2020 and will apply to all applications received by SBA on or after that date. Participants must continue to use SOP 50 10 5 (K) for SBA 7 (a) and 504 applications submitted through September 30, 2020.
The SOP will be made available here: https://www.sba.gov/partners/lenders/7a-loan-program?utm_medium=email&utm_source=govdelivery