New SOP 50 10 5 (E) Takes Effect
Effective June 1st, 2012, the U.S. Small Business Administration has a new version of the requirements for the agency’s 7(a) and Certified Development Company (CDC) loan programs. All documentation submitted in support of SBA loans needs to be updated to reflect SOP 50 10 5 (E), not its predecessor, SOP 50 10 5(D).
Final SOP 50 10 5(E)
This chart represents the minimum steps of environmental investigations of commercial properties required by SOP 50 10 5(E).
This is a list of environmentally sensitive industries for use in completing the NAICS code matching step set forth by SOP 50 10 5(E). Determine your NAICS Code here.
This tip sheet is based on outreach to the environmental consultants and SBA lenders who have been following the agency’s environmental policies in the field.
Liquidation Policy (SOP 50 51 3)
Summary of New SBA Liquidation Policy (50 51 3)
On November 15, 2010, a revised liquidation policy went into effect, outlining the environmental investigation requirements to be met for all loans in "liquidation status." Click here for EDR's summary of the environmental provisions of this policy.
Download the latest version of the SBA's liquidation policy, 50 51 3, effective November 15, 2010, including the updated environmental policy.
The EDR compliance solution
EDR's LoanCheck® Plus report meets or exceeds each of the SBA requirements for the Records Search with Risk Assessment stage of an environmental investigation.