U.S. SBA Resources for Community Advantage Lenders

**Review Community Advantage Timeline Factsheet**​​​​

• October 15, 2023 - SBA released the revised SOP 50 10 7.1 for 7(a) and 504 programs. Effective on November 15, 2023 [SOP 50 10 7.1]​

• October 5, 2023 - U.S. SBA issued a federal register notice to sunset the Community Advantage pilot program in 2023. The rule became effective on October 31, 2023. [88 FR 69003] 

• June 15, 2023 - SOP 50 56 1, containing the SBA’s participation guidance for 7(a) Lenders and Certified Development Companies (CDCs), became effective, providing criteria for becoming an SBA Lender, types of delegated authority, an overview of how SBA conducts oversight of SBA Lenders, and processes for loan reporting, Secondary Market transactions, loan transfers, and securitization. [SOP 50 56 1]

• May 31, 2023 - SBA notified 7(a) Lenders and SBA employees of the issuance of Standard Operating Procedure (SOP) 50 57 3, 7(a) Loan Servicing and Liquidation, which became effective on August 1, 2023. SBA also updated the Guaranty Purchase Package used by lenders to request that SBA honor its guaranty on any loan approved under the 7(a) loan program. [SBA Information Notice]

• May 26, 2023 - SBA delayed the implementation of new procedures for submitting loan terms and conditions to SBA until August 1, 2023, to coincide with the effective date of the new SOP 50 10 7. [SBA Procedural Notice] 

• May 10, 2023 - This update to the SOP provides additional guidance and incorporates revisions to conform to changes in SBA regulations and Loan Program Requirements. Effective on August 1, 2023. [SOP 50 10 7]

• May 9, 2023 - SBA implemented the removal of the requirement for a Loan Authorization in accordance with the final rule on the Small Business Lending Company (SBLC) Moratorium Rescission and Removal of the Requirement for a Loan Authorization. [​SBA Procedural Notice] 

• May 9, 2023 - SBA addressed the implementation of the final rule on Affiliation and Lending Criteria for the Business Loan Programs in the 7(a) and 504 Loan Programs, along with an increase in the maximum loan amount for a 7(a) small loan to $500,000, effective May 11, 2023. [SBA Procedural Notice] 

• May 1, 2023 - OCRM initiated a program to enable CA lenders to become Community Advantage Small Business Lending Companies (CA SBLCs).​ [SBA Information Notice]

• April 12, 2023 - Final rule on the SBA's Small Business Lending Company (SBLC) Moratorium Rescission and Removal of the Requirement for a Loan Authorization published. [88 FR 21890] 

• November 7, 2022 - SBA issued a rescission on the Small Business Lending Company (SBLC) Moratorium and Removal of the Requirement for a Loan Authorization.​ [87 FR 66963]

• September 29, 2022 - SBA amended its small business size regulations to incorporate OMB’s NAICS revisions for 2022, effective on October 1, 2022.​ [87 FR 59240] 

• ​July 5, 2022 - SBA proposed to amend its small business size regulations and incorporate OMB's NAICS Codes. ​[87 FR 40034] ​

• June 30, 2022 - Final rule on program changes to all 7(a) & 504 programs became effective on August 1, 2022. [87 FR 38900]

• April 29, 2022 - SBA published notification of changes to Community Advantage Pilot Program. Effective May 31, 2022. [87 FR 25398] 

• April 1, 2022 - SBA extended the term of the CA Pilot Program through September 30, 2024 and allowed for new CA applications from Mission Lenders. Effective April 1, 2022. ​[87 FR 19165]

• September 12, 2018 - SBA placed a moratorium on accepting new CA Lender applications. Effective October 1, 2018. [83 FR 46237]

• December 28, 2015 - SBA extended the CA Pilot Program until March 31, 2020, and program changes were adopted including allowing changes made to CA delegated authority rules. Effective December 28, 2015. [80 FR 80872] 

• October 9, 2012 - The CA Pilot Program was extended to remain in effect until March 15, 2017. Effective November 9, 2012. [77 FR 67433] 

• February 8, 2012 - SBA increased the maximum allowable rate a CA Lender could charge a borrower to prime + 6%. CA Lenders were allowed to sell loans in the secondary market. SBA removed the initial examination/ review requirements. Effective February 8, 2012. [77 FR 6619]

• September 12, 2011 - SBA released the first CA Participant Guide and modified the program to permit CA Lenders to pledge loans made under the CA pilot as collateral for lender financings approved by SBA. Effective September 12, 2011. [76 FR 56262] 

• February 18, 2011 - SBA established the Community Advantage Pilot Program with the intent to expand access to capital for small businesses in underserved markets. Effective September 12, 2011. [76 FR 9626]

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