Illinois District Office – February 2022

u s small business administration

7(a) Loan Program

SBA-Guaranteed Loans

Revised guidance on requests for 7(a) loan increases to loans approved on or before December 27, 2020 

Procedural Notice 5000-829036 revises previous guidance, and outlines that lenders may request an increase to a 7(a) loan approved before December 27, 2020 provided the loan either has received all Section 1112 payments for which it was eligible or that the loan was not eligible to receive any Section 1112 payments.  This notice went into effect February 16, 2022. 

Upcoming Lender Trainings

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SBA Credit Underwriting

This webinar will provide an overview of current loan processing trends as evidenced in recent screen outs from the LGPC. Friday, February 25, 10:00 a.m. 

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SBA Basic Loan Eligibility

This webinar will provide an overview of basic 7A loan program eligibility rules. Friday, March 11, 10:00 a.m. 

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SBA Export Loan Programs

This webinar will provide an overview of the SBA Export Loan Programs. Wednesday, March 16, 10:00 a.m. 

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SBA How To Protect Your Guaranty

This webinar will provide an overview of how lenders historically jeopardized their SBA loan guaranty. Friday, March 18, 10:00 a.m. 

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SBA Debt Refinance As A Use Of Proceeds

This webinar will provide an overview of the rules regarding debt refinance as a use of proceeds for an SBA loan. Friday, March 25, 10:00 a.m. 

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SBA Credit Underwriting

This webinar will discuss recent trends revealed in loan processing screen outs that impact your SBA loan credit memo. Wednesday, March 30, 10:00 a.m. 

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Stay updated

Visit sba.gov/relief for updates on the loan programs, guidance for businesses and employers, and other SBA resources.

If you have questions about your already submitted EIDL application, contact the SBA Disaster Customer Service Center at (800) 659-2955 or disastercustomerservice@sba.gov.

Follow @SBA_Illinois on Twitter.

E-mail questions to illinois.do@sba.gov.