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QUICK LINKS ___ SBA PPP sitePPP ArchiveChart of PPP Interim Final RulesDepartment of the Treasury PPP siteSBA Resources by State (including lenders)Timeline of PPP GuidanceLender Assistance Hotline: (833) 572-0502 Find eligible lenders (sba.gov tool)List of active SBA lendersRECENT PPP UPDATES ___ (June 17) Tune in at 1 PM EDT today to the House Small Business Committee hearing on Paycheck Protection Program: Loan Forgiveness and Other Challenges. Watch Live(June 17 8:30 AM EDT) SBA and Treasury release IFR # 19 - Revisions to the Third and Sixth Interim Final Rule(June 17 8:30 AM EDT) SBA and Treasury Announce New EZ and Revised Full Forgiveness Applications for the Paycheck Protection ProgramEZ Forgiveness Application InstructionsEZ Forgiveness ApplicationFull Forgiveness Application InstructionsFull Forgiveness Application(June 12 7:30 EDT - UPDATED June 17 ) SBA and Treasury issue joint press release and release IFR #18 - Additional Revisions to First Interim Final Rule ; new borrower and lender application forms. (6-12) Revised Borrower Application(6-12) Revised Lender Application(June 15) Administrator Carranza Letter re serving underserved and disadvantaged communities with PPP loans(June 12 ) SBA Notice 5000-20029 , Guidance on Establishing Maturities of New 7(a) Loans Eligible to Receive Payments under Section 1112 of the CARES Act (6/11/1010) requires lenders to set the loan maturity for any new 7(a) loan (excluding PPP) as traditionally required based on the borrower’s ability to repay, the use of proceeds and the useful life of the assets being financed. The notice prohibits lenders from intentionally shortening loan maturities in order to allow payments made by SBA on new 7(a) loans under Section 1112 of the CARES Act to pay all or a substantial portion of the loan. See notice for full details and additional information regarding interplay between PPP and Express Bridge Loans. (June 11 – updated 1:30 PM EDT ) IFR #17, Paycheck Protection Program – Revisions to First Interim Final Rule , which modifies IFR #1 now has been posted to both the Treasury and SBA websites. We still are waiting for additional formal guidance from SBA, including new borrower and lender loan application forms. Material that is circulating now may be further updated. Watch for more information from when SBA/Treasury make a formal announcement, possibly in the form of a press release. I FR #17 – Revisions to First Interim Final Rule RECENT GR UPDATES ___ (June 5 11:30 AM EDT) issues clarification on recent release re: H.R. 7010 - PPP Flexibility Act(June 4 10 AM EDT) Senate passes Paycheck Protection Program Flexibility Act of 2020 ; Bill awaits President’s signature . Read Press Release(May 20) Senate Passes Small Business Lending Continuity Act (May 15) HEROES Act passes House FY21 BUDGET UPDATES ___ The Administration’s budget proposal again estimates a positive subsidy for the 7(a) program in FY2021 to the tune of $15 million. Read ’s in-depth analysis of the Administration’s budget proposals – and please remember that the final federal budget crafted by the Congress will likely look very different. The Committee on Small Business held a hearing on February 26 titled, A Discussion with SBA Administrator Jovita Carranza: Current Issues and the FY2021 Budget, . Watch the recordingOTHER IMPORTANT UPDATES ___ ’s Secondary Market Committee provided an updated Standardized Secondary Market Bid Sheet (supplied as-is with no implied endorsement)Version 15 of Servicing and Liquidation Actions 7(a) Lender MatrixClick here to view Job Bank positionsRATES ___ JUNE RATES Prime Rate = 3.25% Fixed Interest Rate Base = Prime [+ allowable spreads] Maximum Allowable Fixed RatesSBA LIBOR** Base Rate = 3.18% ** REMINDER : LIBOR will soon be sunsetted History of SBA LIBOR base rateSBA Optional Peg Rate = 1.88% [April 1-June 30, 2020] [SOP 50 10 5, "Base Rates will be rounded to two digits with .004 being rounded down and .005 being rounded up."] Helpful Links for Navigating naggl.org Changing Your Password | Accessing the Members-Only Directory | Registering Online for an Event | Adding/Deleting Individuals (MORs only) | Managing your Company Profile (MORs only) | Adding Categories for the Service Provider Search (Associate Members only) | PRINT Your Event Receipt | PRINT Your Certificate of Attendance/Diploma Credit | Pay Your Invoice Online | W-9 Form Keyword Search Search » Sign In Remember Me Forgot your password? Haven’t joined yet? more Latest News This feature is restricted to registered members. If you are already a member of the community, click here to sign in. If you have not yet registered, click here to get connected! more Calendar 7/9/2020 WEBExpress: Successfully Completing New NGPC Purchase Tabs 7/16/2020 WEBExpress: Understanding Changes of Ownership 7/23/2020 WEBExpress: Equity Injection – What is Required? Online Surveys Featured Members Member Resources Our Mission Established in 1984, serves the government guaranteed lending community, empowering members while meeting their multiple needs. Privacy PolicyAll rights reserved. © 2020 , Inc. Contact Email info@naggl.org Phone 469.293.9229 Address 11330 Legacy Dr #304 Frisco, TX 75033 Find us online! Membership Management Software Powered by YourMembership ::...