US SBA Loan Servicing Matrix

On Oct 20, 2009 the US SBA published their latest 'Unilateral Action Matrix' for Servicing and Liquidation Actions for their popular 7a loan.

What is this and why is it important?

If you don't have a US SBA 7a loan it may not interest you, but if you do have this type of loan or are servicing this loan the information gives the 'rules of the road' for what you may and may not do in servicing and liquidating the 7a loan.

For our MnSBDC Professional Business Consultants who work with clients and lenders that use a 7a loan, this information is useful for understanding options, especially if the client is in a work out situation.

Here's the link to the PDF file matrix located on the US SBA Website.