SBA announced the long-awaited arrival of SOP 50 10 7.1 with a webinar on the Agency’s 7(a) Connect Quarterly Update on Tues., Oct. 24. Effective on November 15, 2023, this updated SOP contains more than 50 technical corrections across the spectrum of SBA lending … Eligibility, Credit Not Available Elsewhere, Restrictions on Use of Proceeds, Debt Refinance, and Affiliation Based on Ownership are just a few. Yep worth the read. We’re diligently combing through the new SOP and noting significant changes. Stay tuned for coverage in upcoming JRB eBulletins.
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