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Archive

Small Business Administration Launches Resource for Lenders

The Small Business Administration (SBA) has launched a new online “Lender Toolkit” to make it easier for small business lenders to stay abreast of the latest changes to SBA loan programs.

The site, www.sba.gov/for-lenders, answers frequently asked questions, leads lenders to  loan servicing centers that fit their needs and provides a weekly lending report.

The goal, the SBA said, is to facilitate SBA collaboration with its lending partners, making it easier for them to identify the points of contact, loan programs and financing options that will best expand access to capital for local small businesses to help them grow and create jobs.

The site hosts useful tools, such as the ability to download and submit loan packages, updates on interest rates and important lending news .

The “Find a Loan Package” feature allows users to select a loan type and download all the associated forms. Instruction on how to complete the loan package and standard boilerplates will help lenders prepare more accurate loan applications, increasing the probability of guarantees to worthy small businesses.

“Find a Service Center” enables the lender to search for servicing center contact information based on the loan processing parameters of loan type and stage.

Lenders can also find a lender relationship specialist by selecting a local district office from a pull-down list.