SBA Resources for Community Advantage Lenders
The main source of SBA guidance for CA lenders is provided through the Community Advantage Participant Guide, which has been updated several times since the CA pilot was first launched in 2011. Unless otherwise specified by the SBA, CA lenders and CA loans must comply with SBA 7(a) regulations and guidance.
All Small Business Applicants must complete and sign the following forms:
- Community Advantage Participant Guide: Version 6.0 was issued on June 1st, 2020 and is effective as of June 15th, 2020.
- Form 1920: The Lender’s Application for Loan Guaranty for All 7(a) Loan Programs is used to make a determination regarding eligibility for financial assistance and the appropriate processing method.
- Form 1502: The Guaranty Loan Status and Lender Remittance Form is used for the monthly reporting of the outstanding loan balance on a 7(a) loan and the remittance of the on-going guaranty fee(s).
- Form 159: The Fee Disclosure Form and Compensation Agreement is used to disclose fees paid in connection with an SBA-guaranteed loan.
All Small Business Applicants must complete and sign the following forms:
- Form 1919: The Borrower Information Form is used to collect identifying information about the applicant, loan request, indebtedness, principals of the business, and information on current or previous government financing.
- Form 2449: The Community Advantage Addendum is used to collect information about the applicant business and any management or technical assistance training or counseling it may have received. It is an addendum to Form 1919.
In February 2021, the MLWG submitted a letter to Congress urging expedient confirmation of Ms. Isabel Guzman as Administrator of the Small Business Administration.