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Revised OCA Regulations on 504 and 7(a) Loan Program

 
SBA Revises OCA Regulations on 504 and 7(a) Loan Program to Expand Access to Loan Programs, Streamline the Application Process and Ensure Program Integrity through Enhanced Oversight
 
Summary of Proposed OCA regulations changes for 504 and 7(a) programs
SBA has proposed to revise OCA regulations for the 504 and 7(a) loan programs.  The goal of these regulation changes is to expand the accessibility of SBA loan programs, to streamline the loan application process and to ensure program integrity through effective, proper oversight.
The SBA proposed rule resulted from extensive consultations with lenders and borrowers to identify the greatest challenges they face and find ways to reduce those barriers and make loans more accessible while reducing waste, fraud and abuse.
Among the proposed changes are:
•           Eliminating the personal resource test
•           Revising the rule on affiliation
•           Eliminating the nine-month rule for the 504 loan program
•           Increasing accountability of the CDCs’ Board of Directors
•           Removing unnecessary CDC operational requirements, and
•           Other provisions to refocus CDC operational and
             organizational requirements
 
Proposed OCA rule for 504 and 7(a) regulations changes
A copy of the OCA proposed rule is available for review on the Federal Register website at:
http://www.gpo.gov/fdsys/pkg/FR-2013-02-25/pdf/2013-04221.pdf
 
OCA 504 and 7(a) forms changes proposed:
The proposed rule would also result in changes to the following forms for the 504 and 7(a) loan programs:

504 Forms

7(a) Forms

Draft Form 1244 and checklist

Draft Form 4

Draft Form 2234C PCLP checklist

Draft Form 7

Draft Form 1253 Annual Report

Draft Form 1919

Draft Third Party Lender Agreement

Draft Form 1920 (Part C)

 

Draft Form 2301 A

 

Draft Form 2301 C

 

Draft From 2301 D

 

Draft Affidavit as to Affiliation (new)

 
Contacts for Submitting Comments or for Technical Assistance Questions
Mail:
Patrick Kelley, Deputy Associate Administrator
Office of Capital Access
ATTN:  Linda Reilly, Chief, 504 Program Branch
U.S. Small Business Administration
409 Third Street, SW
Washington, DC  20416
E-mail:
ocareg2013@sba.gov
For technical questions contact:
Linda Reilly, Chief, 504 Program Branch
202-205-9949
linda.reilly@sba.gov

Last Date Modified: 03/18/2013