The SBA has published updates to the Standard Operating Procedures manual replacing SOP 50 10 6 with SOP 50 10 7.  These updates will become effective August 1, 2023.  There has been much debate when and how lenders will implement these updates. The short answer is we’ll have to wait and see.

For now it’s enough to understand the enormous changes that have taken place and how searchers, entrepreneurs and business owners will benefit.

The reason I’ve waited to publish this information on The MY SBA Loan Pro Podcast until now is to let the dust settle and provide feedback from real world scenarios.

This episode will focus on the following updates:

• The “So Called” Long Winded Statement

• A Standard Loan Vs a Small Loan

• Full Change of Ownership

• Partial Change of Ownership

• Franchise Directory

• Personal Resource Test

• Life Insurance

Ryan is always available to speak with his loyal podcast listeners. Please schedule a call via https://mysba.pro/cal to get started today!

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