Comments due on SBA's proposed 7(a) loan program amendments
The Small Business Administration has published at 84 FR 29092 a proposed rule to implement the Small Business 7(a) Lending Oversight Reform Act of 2018, and to update the Agency;s regulations on supervision of all lenders participating in SBA's business loan programs. The purpose of the Act was to increase the SBA's oversight capabilities and to ensure the integrity of the 7(a) Loan Program. The Act contains several new and strengthened authorities. Comments on the proposal are due by August 20, 2019.
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