FAQs on SBA SOP 50 10 8
What is SOP 50 10 8?
- The U.S. Small Business Administration (SBA) Standard Operating Procedure (SOP) 50 10 8 serves as the governing framework for lenders offering 7(a) and 504 loans.
- It introduces major policy changes impacting every phase of SBA lending, from credit standards and ownership rules to loan eligibility and documentation
Who is affected by SOP 50 10 8?
SBA lenders, small businesses applying for 7(a) loans, and financial advisors handling loan structuring.
What should lenders do to comply?
Revise underwriting practices, implement new equity documentation, train staff, and verify borrower eligibility and documentation thoroughly.
