SOP 50 10 MODERNIZATION INITIATIVE

In 2007 SBA launched an initiative to modernize our main loan processing Standard Operating Procedure: SOP 50 10. Our goal was to deliver a modernized SOP 50 10 that is concise and more user friendly for Lenders, Certified Development Companies (CDCs) and SBA personnel.

From a combined effort of district office personnel, the Office of General Counsel, the Office of Financial Assistance, the National Association of Government Guaranteed Lenders, the National Association of Development Companies, as well as many individual lenders and CDCs, the new SOP [50 10(5)] was completed and issued on June 6 and became effective August 1, 2008.

That SOP may be found at www.sba.gov/banking, then click on “Regulations and SOPs” which will bring up the hyperlink to the SOPs. 

In addition, SBA will be publishing from time to time a list of “Frequently Asked Questions” (FAQs) regarding the SOP.  The first set of FAQs were made available on August 6, 2008 and may be found at the same location as the SOP.

Comments or questions about specific policies in the SOP should continue to be sent to the following mailbox:  SOP50-10modernization@sba.gov.