SBA 7(a) Secondary Market Sale Restrictions During a Lapse in Funding
The current Continuing Resolution (CR) extends government spending levels through Friday, December 16, 2022. In the event of a government shutdown due to lapsed funding after 11:59 PM EST on the 16th, SBA 7(a) Secondary Market sale and pool formation processes will be impacted with the following restrictions:
- The sale of SBA 7(a) loans into the Secondary Market may continue only for those loans where all required sale documentation was received by the FTA via settlementexpress@sba.gov on or before Friday, December 16, 2022, and there are no exceptions that require SBA staff assistance.
- SBA pools may be formed where all required pool documentation was received by the FTA on or before Friday, December 16, 2022, and there are no exceptions requiring assistance by SBA staff. Pool Assemblers may begin submitting pools through PSU Online, within the Capital Access Financial System (CAFS), on Monday, December 12, 2022.
- Assignees may continue to present SBA Form 1088, Secondary Market Assignment and Disclosure Form, and its related registered certificate for transfer to the FTA for SBA 7(a) Secondary Market Certificate Transfers. This includes Confirmation of Originator Fee transfers.
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