Effective immediately, lenders with SBA Express lending authority can utilize SBA’s Express Bridge Loan (EBL) Pilot Program to provide expedited SBA-guaranteed financing for up to $25,000 on an emergency basis for disaster related purposes to eligible small business located in counties that have been Presidentially-declared as disaster areas while the small businesses apply for and await long-term financing (including through SBA’s direct Disaster Loan Program, if eligible). This Program is only eligible to small businesses that had an existing relationship with the SBA Express Lender as of the date of the applicable disaster. The newly updated SBA Express Bridge Loan Pilot Program Guide can be found at https://www.sba.gov/sites/default/files/2020-03/Express-Bridge-Loan-Pilot-Program-Guide-FINAL-3.25.20.pdf. In addition, the U.S. Small Business Administration (SBA) gives Lenders unilateral authority to modify or restructure existing 7a standard loans through the E-Lend Servicing platform in our Capital Access Financial System (CAFS). The following are some of the servicing actions you have unilateral authority to perform without prior approval from the SBA:
More information regarding the Servicing and Liquidation Actions 7a Loan Matrix may be found at https://www.sba.gov/document/support--servicing-liquidation-actions-7a-lender-matrix.