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Articles of Interest for the Government Guaranteed Lender

SBA Lender Sr. Manager Retreat

Wednesday, January 7
SBA Halts all 7(a) Funding. Fresno, Sacramento Loan Centers, Notify Lenders Beginning on Tuesday January 6 at 4:30 p.m. PST....

Effective immediately and until further notice, the U. S. Small Business Administration (SBA) will not approve requests for loan guarantees under Section 7(a). SBA has encountered unprecedented demand for the 7(a) loan program. Due to this spike in demand, SBA is forced to take necessary steps to manage the program to the resources available.

Applications that have not been processed will be returned to the lender if SBA has possession of the original loan application. If the application was faxed to a processing center, SBA will cancel the application, but will not send the application back to the lender.

We are currently working with Congress and expect to resolve this issue and resume the 7(a) loan program shortly. We regret any inconvenience this delay may cause the small business customer or the lender.

Hector V. Barreto Administrator