U.S. Small Business Administration reposted this
LENDERS: Today, U.S. Small Business Administration announced that SBA 7(a) lenders may now accept applications for the SBA’s newly-announced 7(a) Working Capital Pilot Program! Lenders currently approved to process 7(a) loans can begin processing 7(a) WCP loans on August 1. Due to the specialized nature of this type of lending, SBA created a new type of delegated authority for WCP called Preferred Lender Program (PLP)-WCP. Lenders with delegated Export Working Capital Program (EWCP) authority will be immediately provided with delegated authority to make 7(a) WCP loans. Lenders who do not maintain delegated EWCP authority may apply for delegated 7(a) WCP status with the requirements outlined in the Program Guide, which is available for download on SBA’s Training on Demand page: Learn more: https://lnkd.in/gjcKaQyb