The information is provided in an effort to make use of the SBA loan programs as user friendly as possible and to provide a communications link with the district office whereby bank commercial loan officers can resolve quickly questions of loan processing, eligibility and other issues. Certified lenders receive expedited loan approval from the SBA district office. The North Florida District Office regularly provides loan program training for bank commercial loan officers. The average loan was sold at 105.9 percent of par. This is profitable business and the pool assemblers do most of the work.
Sales require no underwriter, legal, rating agency or trustee fees.
Besides the opportunity for profit, the secondary market offers lenders additional liquidity and a chance to improve regulatory ratios. This program requires a minimum of documentation and offers expedited SBA approval. The process requires little more than your normal internal process. After clicking on this you will find in SBA LowDoc briefing documents a PDF file for the most frequently asked question about this loan program. The CDC packages the loan application for lenders and there is a market for the sale of these first mortgages to other financial institutions.