On February 10, 2020, The Small Business Administration (SBA) published an interim final rule and request for comments in the Federal Register. This interim final rule was published after receiving extensive comments from the public following the release of the SBA’s Notice of Proposed Rulemaking on Express Loan Programs; Affiliation Programs on September 28, 2018. Rather than proceeding to the final rule, the SBA is providing the public with an additional opportunity to comment.

The final rule provisions will impact major SBA loan programs including those related to:

  • SBA Express
  • Affiliation
  • Agents and Fees
  • Personal Resources Test

While the SBA is continuing to invite comments on all aspects of the interim final rule until April 10, 2020, the majority of the new provisions will take effect on March 11, 2020. Changes related to agents/fees will take effect October 1, 2020.