Michigan District Office 

u s small business administration

SBA-Guaranteed Loans

CY 2023 Monthly Reporting Due Dates

The FTA has released the 2023 detailed monthly schedule of final reporting due dates and guidelines for 7(a), 1112 Debt Relief, and PPP loans. The CY 2023: Due Dates Schedule can also be found on the FTA Wiki.

Lenders must submit the month-end report via the 1502 Gateway within the SBA Capital Access Financial System (CAFS) no earlier than the first calendar day of the current month and no later than the schedule of final reporting due dates published on the FTA Wiki.

7(a) 1502 Report – Monthly

SBA Form 1502 loan and payment reporting for 7(a) loans is due to the Fiscal Transfer Agent (FTA) via the 1502 Gateway within SBA Capital Access Financial System (CAFS) on the 3rd of the month, or the next business day if the 3rd is not a business day. The SBA allows a grace period of an additional two business days after the due date. 1502 payment instructions are available on the FTA Wiki.

If the FTA receives a regularly scheduled secondary market payment after the grace period, a secondary market late payment penalty to the SBA is assessed. SBA Form 1086, Secondary Participation Guaranty Agreement, describes the components of the late payment penalty. Lenders are billed after the 20th of each month for late penalties assessed for the prior month from latepenalty@sba.gov. Late penalties are due to the FTA with the Lenders’ next monthly Form 1502 in the Remittance Penalty column. ​

Lenders are separately responsible for secondary market 1502 deadlines for borrower late payments and prepayments as defined by SBA Form 1086.

Section 1112 Report – Monthly

The Section 1112 Report for the CARES Act, Section 1112 Debt Relief Program is due to the FTA via the 1502 Gateway within CAFS on the 7th day of each month, or the next business day if the 7th is not a business day.

PPP 1502 Report – Monthly

SBA Form 1502 loan reporting for PPP loans is due to the FTA via the 1502 Gateway within CAFS on or before the 15th of each month, or the next business day if the 15th is not a business day. Lenders must continue to use separate 1502 reports for PPP loans and 7(a) loans and comply with the distinct deadlines for each report.     

 

due  dates

For questions, please contact the FTA Client Services team via fta@sba.gov


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