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Coleman Publishing helps lenders understand the SBA’s new SOP 50 53

SBA puts into effect latest SOPs related to lender oversight, supervision and enforcment action.

FOR IMMEDIATE RELEASE

 
PRLog (Press Release) - Oct. 28, 2010 - SBA’s SOP 50 53, which went into effect on October 1st,  details the approach the agency may take in conducting lender oversight, the circumstances that warrant increased levels of SBA supervision and  the enforcement action that the SBA may take against lenders determined to be non-compliant.  SOP 50 53 is supplemented by SOP 51 00 which covers on-site reviews and examinations.    

In a November 3rd Coleman Webinar, SBA regulatory expert, Ethan Smith, will boil down the main points of SOP  50 53 and supplemental 51 00 in an easy to understand presentation and will be available for back and forth dialogue with any questions. “A thorough understanding and consistent application of all applicable SBA related laws and regulations is critical for lenders, not just to preserve and protect the SBA guaranty, but also to maintain a lender’s good standing with the SBA”, contends Smith.  
Ethan Smith, Esq. is Founding Partner of Starfield & Smith, P.C.  As a closing attorney for commercial lenders, Ethan prepares and reviews loan files for conventional, SBA 7(a) and 504, and USDA B&I loans, confers with loan processors and in-house counsel, and drafts, analyzes and negotiates loan documents. He has closed hundreds of government guaranteed commercial loans through the SBA 7(a) and 504 loan programs, through the USDA B&I program, and has closed numerous conventional commercial financing transactions, including asset-based, real estate, and factoring arrangements.
 
For further information contact Deborah Weirick at deborah@colemanpublishing.com.

Coleman Publishing
P.O. Box 546
La Canada Flintridge
CA, 91012

818-790-4591

# # #

Coleman Publishing is an online media company covering the small business banking industry. The founder, Bob Coleman, is the national expert in small business lending.
Coleman Publishing is your source for the latest news in small business lending.

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Contact Email:
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Source:Coleman Publishing
Phone:818-790-4591
City/Town:La Canada Flintridge - California - United States
Industry:Banking
Tags:sop 50 53, sba lender oversight, compliance, small business banking
Shortcut:prlog.org/11033126
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