Lenders must submit Form 1502 data for all PPP loans by May 29, 2020, or 10 calendar days after the loan is disbursed or canceled, whichever is later. There is no limit on how frequently lenders can submit 1502 reports. <>/Metadata 286 0 R/ViewerPreferences 287 0 R>> SBA.com is not SBA.gov. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> See the guide endobj The original deadline for lenders submission of the initial SBA Form 1502 was May 22, 2020. Lenders often overlook including undisbursed loans within the 1502 report. SBA 1502 Colson Reporting Fiserv SBA_1502 3 12/22/2022 Overview: This application extracts SBA Form 1502 data for SBA guaranteed loan accounts (Sold, unsold and loans that are in the SBA ARC Loan Program) to assist a financial institution for regular monthly remittance processing and Paycheck Protection Program (PPP) SBA 1502 reporting. [Content_Types].xml ( TN0#qj# `mb-6B4Kwfvlq^E^c}7XdW{lDGDAkjeTzZxQ-nJLZ!j0A]cLv :&1r+gNgy}{E\Psei;!?`'A\:-Ed_3uFYnG+:d."m/CJ`=:LRY\?hW+o:#BD\=,laOap. Small Business Advice (or "SBA" or SBA.com") offers business advice, information and other services related to the formation, financing, operation and management of businesses. We donotrecommend using the call in feature to connect to audio.With this option you MUST enter your ATTENDEE ID to participate in this course (provided after you join the meeting). %PDF-1.7 This form includes loan status information for all SBA guaranteed loans, regardless of whether the borrower made a payment in the current month. This article offers three steps to reverse the impact. SBA Form 1502 Reporting Instructions 1502 : Reporting Common Errors / Exceptions - January 9, 2023 CY 2023: Due Dates Calendar - November 29, 2022 Paycheck Protection Program: SBA Form 1502 Reporting - January 13, 2022 Payments to FTA: Payment Instructions - Lenders - October 19, 2021 We are a private business providing resources for small businesses, including resources for PPP loans. <> An official website of the United States government. Common reporting error: the sum of guaranteed . Lenders can obtain additional documentation to clear hold codes on loan applications, but do not have to submit these documents to the SBA at this time. (|U>goUMm.6.#j"50>U2IF:[vm_e'],[+[~f'&Vf;3{Hjjs NbXaf|\aH,6ctlF:XyY.6ZR0|\&_r_tUQMz`A\+J9i1)TFE&"DFM8y1,N@H2G[$BC$G8@2uLc0N. @EFf+Xc0SehEL:E%6E'R R"_GG?>y%;bji2'[A 5PLk u(a@2^UF_?Y+K{6Hxs\X.4T0)w#&ou oQ\y?5:%vaY;k :0DEiNSjKqqZd*U}yn`0d8qX!g&d~kS[| |},y0?R(*&I8:L"b(CYNr6"HI}ukmvXJ_ UQHL=@~{pOda\uI\J9Kb.gfr:f: Start your business in 10 steps. Tips for Best ExperienceRead this document PRIOR to course start date, refer to when joining class, Please print materialsPRIORto course start date, for use during class The exact status of ongoing loans is not released by the SBA. endobj PK ! PPP Form 1502 Released for Lenders Fees & Reporting Requirements, Beyond COVID: The Evolution of Senior Care Within the Healthcare Ecosystem, Change Clari3ty Is the Strategic Differentiator in Combating Change Saturation and Burnout, Global Pandemic Impact on Nonprofit Financial Position, HFMA Healthcare 2030 Supplement: Disruption Is Real, 3 Dimensions to Employee Burnout in Dealerships, Intellectual or Developmental Disabilities & Behavioral Health, 5 percent for loans of not more than $350,000, 3 percent for loans of more than $350,000 and less than $2 million, 1 percent for loans of at least $2 million, If the PPP loan is canceled before disbursement, If the PPP loan is canceled or voluntarily terminated and repaid after disbursement but before the borrower certification safe harbor date of May 18, 2020(including if a borrower repays the PPP loan because of a misunderstanding or misapplication of the borrowers certification regarding the necessity of the PPP loan request), If the PPP loan is canceled, terminated or repaid after disbursement (and after the borrower certification safe harbor date) because the SBA conducted a loan review and determined the borrower was ineligible for a PPP loan. Nonprofit organizations across the country have seen lingering effects from the COVID-19 pandemic. . Lenders must submit these completed forms to the SBAs 7(a) Fiscal and Transfer Agent, Colson Services Corp. (Colson). The last day of the month for which the form is being completed should be specified in the "Month-Ending Information" field. Format of RequestData, if any. Contact Us, Copyright 2023 -Innovative Financing Solutions|Powered by, Five Tips for Avoiding SBA 1502 Reporting Errors and Penalty Fees, 5000-843620 2nd Quarter Peg Rate, Direct Interest Rate and Maximum Interest Rate of a ThirdParty Lender Loan for a 504 Project, Important Notice: Notice of Proposed Rulemaking on Affiliation and Lending Criteria for the SBA Business Loan Programs, Fee Disclosure and Compensation Agreement For use with 7(a) and 504 Loan Programs, Lender Update: 5000- 843625 IRS issues updated IRS Form 4506-C. <> 3245-0185 Expiration Date: Guaranty Loan Status & Lender Remittance Form Check box if lender information reflects changes F Check box if secondary market payment O reported is a late payment or prepayment Lender's Name: Lender's Street Address: L D Lender's City, State, Zip: Lender's Contact Person: Read on. Include the loan name and number in your email. endobj We have no affiliation with the U.S. Small Business Administration or any other government agency. So as the carpenters say, "Measure twice. stream Cut once." You need to do it right so the SBA won't kick it back for you to do all over again. Visit BKDs COVID-19 Resource Center to learn more. <>/Metadata 1801 0 R/ViewerPreferences 1802 0 R>> Drexel Hill, PA 19026 Read on for details. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> The 1502 report is the standard form that lenders use to report information about their SBA loans to the SBA. Access the association's PPP FAQs here. Once a loan has been paid-in-full, you should 1) notify loanresolution@sba.gov of the paid-in-full status and 2) report the loan as a code "6" on your next monthly 1502 report. - 11:00 am-4:30 pmEastern| 10:00 am-3:30 pm See Format IN/OUT Defaults. Not sure where to start? To follow are the most common, but avoidable errors lenders make when completing this form and tips for accurately completing Form 1502 monthly. This website is not a lender and does not accept loan applications, assist with loan applications, broker loans, make loans or make any credit decisions. None of the information on this site constitutes legal advice. After a loan forgiveness purchase, if no loan balance remains, the lender must report the PPP loan as paid in full on the next Form 1502 report. 1 0 obj See our Advertiser Disclosure. FORVIS, LLP. The due date for transmitting loan account updates and payments to Colson is the third calendar day of each month, or the next business day thereafter if the third calendar day of the month is not a business day, plus a two-business day grace period. Will contain details . As consultants we've seen lenders make small errors on Form 1502 resulting in the inevitable do-over. The processing fee also is subject to clawback if the lender does not satisfy its lender program requirements, including document collection and retention. {*+5dC%jNXOk;y~GcR* QggLK"ZJ0:j[ul? v.9M^zW3RvT DQryHpnYQ]/.eqUn65&}*:~:$N_!dD\M!w~gDE?'D$r+']Ay=~j~`HWkJ^>S[f9))WGV. Lock Below is the official answer from Q48 as of May 19, 2020. To avoid an error from Colson, the lender must simply report a status code "9" associated with all fully undisbursed loans in the Form until the loan is closed and disbursed. Secure .gov websites use HTTPS Lenders must continue reporting on a loan until the lender notifies the SBA that the loan has been fully repaid. A lock ( organization in the United States. In summary, taking the appropriate measures to ensure loans are accurately reported upon monthly to the SBA can save significant time, costs, and resources by avoiding complex reconciliation efforts to rectify past mistakes and costly penalty fees. 48. Action to be taken: Based on the status of the loan, update the Next Installment Due Date on the 1502 Gateway: Current Date of next scheduled payment <> SoftwareVendorName; Mandatory. With many banks continuing to receive hold codes and compliance check error messages when submitting first- and second-draw Paycheck Protection Program loan applications, the Small Business Administration today issued a second procedural notice with new instructions for lenders to clear these codes and move applications forward. This extension of the timeline for the initial SBA Form 1502 reporting information will be promptly implemented through revisions to SBAs interim final rules providing an extension to the certification safe harbor and the deadline for SBA Form 1502 reporting. All rights reserved. Mandatory. % The change in process is related to the SBA's new process to conduct front-end compliance checks on loan guaranty applications for new first- and second-draw PPP loans. >Z{)=dFS/_)JYKRz _1!m@Y*p&SS)l;H-{9+B. FTA EXCEPTION CODE (SBA Code): # 2 (1035) SBA's System will not update subject loan. Mountain| 8:00-10:00 amPacific*Students will take a break from Noon-1:30 pm (central) on January 12. Loans reported with an inaccurate status code According to OCRM, if a next installment due date is erroneously reported as late on a 1502 Report and corrected on subsequent 1502 Reports, the late payment could affect your institution's overall delinquent loan rating for up to 36 months. endobj <>/Metadata 766 0 R/ViewerPreferences 767 0 R>> Guidance on SBA 1502 Reporting. 2 0 obj Per the original term sheet, the SBA will pay the following amounts as a lenders processing fee: While lenders must file Form 1502 data for all PPP loans disbursed or canceled, lenders will not be paid a processing fee in the following cases: The lender processing fees may be clawed back within a year after disbursement if the SBA later determines the borrower to be ineligible, although this determination will not affect the SBA guaranty for the loan provided the lender has complied with all other PPP obligations. Below is the official question from Q48 as of May 19, 2020. Read on to learn more, This supplement of the HFMA Healthcare 2030 Series highlights analyses of findings from supporters of the four-part series looking at, The COVID-19 pandemic, and each subsequent wave of variants, have profoundly challenged the auto dealership industry. Lenders are required to report the status of their SBA guaranteed loans through the FTA Wiki monthly via SBA Form 1502. 5@fkrv,h@ oN1%vPX%PH! Providing credit unions with the best federal advocacy, education and compliance assistance in the industry Nothing on this website is an offer or a solicitation for a loan. On the month-end 1502, report the loan as a Status Code 6, with the Guar. "#zT"/p*$[p1F~%^'"l rv7'5KS+xizknm Condition: The Guaranteed Portion Closing Balance was left blank or $0.00. Return to the home page, or search for what you're trying to find. Reporting a loan paid in full. For additional SBA loan compliance information, contact the experts atInnovative Financing Solutionstoday! That interim final rule also provides that loans for which funds have not been disbursed because a borrower has not submitted required loan documentation within 20 calendar days of loan approval shall be cancelled by the lender. <> Share sensitive information only on official, SBA is extending the deadline for lenders to electronically upload the initial SBA Form 1502 to May 29, 2020, or 10 calendar days after disbursement or cancellation of the PPP loan. SBA 1502 Form Field Descriptions A. SBA Form 1502 ( ) OMB No. Question: What is the deadline for lenders to complete the initial SBA Form 1502 reporting process? Effective Mid-March 2017, the Next Installment Due Date is the primary data element used by SBA to determine currency for both term and revolving loans. Lori McCausland, Senior Associate, J.R. Bruno and Associates 01:55 If you have questions about these changes, contact your BKD Trusted Advisor today. That said, Form 1502 is tremendously complicated. :S(hsw]o6_E=QoQ8**/K|V1A+J. Checkout our latest new and noteworthy headlines. Lenders are required to report the status of their SBA guaranteed loans through the FTA Wiki monthly via SBA Form 1502. p: PacificJanuary 13 This extension of the timeline for the initial SBA Form 1502 reporting information will be promptly implemented through . The resolution process to clear hold and error codes is expected to be available today. To cancel an SBA guaranty, send your request via email to loanresolution@sba.gov. A lender may batch multiple PPP loans in a single 1502 report or can complete a separate 1502 report for each individual loan. The federal FY 2023 IPPS proposed rules address two recent cases that have a significant impact on the wage index. | 9:00 am-2:30 pmMountain| 8:00 am-1:30 pm Eastern| 10:00 am-NoonCentral SBA Form 1502 Report by the designated deadline. endobj 2 0 obj 4 0 obj Nothing may be used in any manner or reprinted in whole or FORVIS is a trademark of FORVIS, LLP, registration of which is pending with the U.S. Patent and Trademark Office. U.S. Small Business Administration, 409 3rd St, SW. Washington DC 20416. Failure to accurately report payment or disbursement activity during the month. Additional details for resolving hold and error codes through SBA review, duplicate loans and multiple DUNS issues, and more can be found in the procedural notice. 02-Form 1502 Reporting Change > 03-FTA Payment Instruction Change Notice > 04-CY 2023 Due Dates Calendar > 05-SBA Form 1502 > 06-SBA 1502 Form Field Descriptions > 07-1502 Per Diem Calculation > 08-PPP SBA Form 1502 Reporting > 09-Monthly SBA Form 1502 Submission Period > 10-Prime Rate Change > 11-SBA Information Notice 5000-836123 > _____ endobj BKD will continue to follow this developing situation. ) or https:// means youve safely connected to According to the update, certain error and hold codes may now be resolved through lenders' certification. You have reached SBA.com. endobj By clicking "continue" and using this site, you acknowledge that you have read and understand this message. items; Mandatory. SBA 7(a) Secondary Market Certificate Transfers, SBA 7(a) Secondary Market Pooling Program, March 2023: Fiscal Transfer Agent Services for SBA 7(a) Secondary Market, Secondary Market 7(a) Loans: New Investor Handout, Interest Rates: February 2023: SBA LIBOR Rates, Interest Rates: February 2023: Low Wall Street Journal Prime Rates, Interest Rates: February 2023: New Maximum Allowable Fixed Rate for 7(a) Loans, Interest Rates : January 2023: SBA Optional Peg Rates, 10 Day Notice Processing Application: User Guide, Program Guidelines: PPP Loans: How to Decrease Amount in ETRAN, Program Guidelines : PPP Loans: How to Increase Loan Amount in ETRAN, CAFS : API - Interconnection Security Agreement (ISA), CAFS: FTA Portal User Application Access Matrix, 1502 : Reporting Common Errors / Exceptions, Paycheck Protection Program: SBA Form 1502 Reporting, Payments to FTA: Payment Instructions - Lenders, SBA Annual Servicing Fee: Rate and Description, SBA Form 1502 Reporting: Prime Rate Change, SBA Form Instructions: 1502 Field Descriptions, 1502 CARES Module : 1112 Monthly Report Excel Template, 1502 CARES Module : PPP Fee ACH Disbursements to Lenders, SBA Form : Special Remittance: Prior SBA Fees, Lender Training: Resolution to Common Issues, Payments to FTA: Payment Instructions - Brokers/Dealers, SBA Form Instructions: Form 1086 User Guide, SBA Form Instructions: 1086 Field Descriptions (Updated December 2021), Secondary Market: Brokers' Standardized Bid Sheet, Settlements : Broker / Dealer Fee Account Form, Settlements Express: Frequently Asked Questions, 7(a) Secondary Market: Frequently Asked Questions, Program Guidelines: Secondary Market Loan Sales Guide, Program Guidelines : Secondary Market: Overview for Investors, SBA Form Instructions: 1088 Field Descriptions, SBA Form Instructions: 1454 Field Descriptions, Program Guidelines: Guaranteed Loan Pool Certificate. An outstanding guaranteed balance must be provided for every line of 1502 reporting on loans that have been disbursed. Regulations.gov FormatIn; Optional. the .gov website. The SBA began accepting filings on May 22, 2020. If this page doesn't take you immediately to the Login Page, try this hotlink instead: Return to Login Page (This stepping-stone page is necessary to prevent nested frames.) <> During this webinar, Victor Cruz from Guidehouse will provide a complete overview of the 1502 reporting process in addition to recommendations for best reporting practices. The 2022 Healthcare Symposium discussed the post-pandemic challenges for the long-term care sector of the healthcare industry. LIVE Daily Presentation:January 12 All attendees who do not properly connect audio will be asked to reconnect. #P;? 2 0 obj endobj Second Updated Paycheck Protection Program Lender Processing Fee Payment and 1502 Reporting Process 404 Page not found Just like a business on the moon, the page you're looking for doesn't exist. 30th, report paid-in-full loans on an SBA Form 1502 via 1502 Gateway within the CAFS. PPP (12) A locked padlock WhiteHouse.gov. A private code that authorizes use of SoftwareVendorName. %PDF-1.7 Check [ ] the box in the . 1 0 obj For more information, check out this related resource: We are working rapidly to update our resources and content. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> As with most topics related to COVID-19, changes are being made rapidly. Provided for POST-COURSE reference, not necessary to print for use during class: 03-FTA Payment Instruction Change Notice >, 09-Monthly SBA Form 1502 Submission Period >, STEP #2CONNECT YOUR AUDIO (Multiple Options), Call Using Computerconnect directly using your computer speakers and microphone(recommended), Use Phone Call me atenter your phone number to have the system call you directly. The importance of properly completing this form cannot be understated. Under SBAs interim final rule on disbursements, posted April 28, 2020, lenders must disburse PPP loans within 10 calendar days of loan approval; a loan is considered approved when the loan is assigned a loan number by SBA. 4 0 obj stream Lender Information: Must state the lender's name, address, contact person, telephone and fax numbers. . x\moF aBbN zK1p8HLT"u73(-UGP|ggv^|f 7xr_NWf,~}ZoinfS^fWo^+`3iV+_}3n^pO8V\)v{l/~NnFyTk5|>p^&s:'t This form is to be completed monthly by lenders participating in the SBA's 7(a) loan program in order to collect payment and loan information. SBA Form 1502 Field Descriptions The "Lender Information" field requires the lender's name, address, point of contact and phone number. SBA is extending the deadline for lenders to electronically upload the initial SBA Form 1502 reporting information to the later of: (1) May 29, 2020, or (2) 10 calendar days after disbursement or cancellation of the PPP loan. Portion Principal Instructor:Christopher Anthony (Guidehouse). If a loan balance remains after forgiveness, the lender must report the reduction in the loan balance for the forgiveness amount on the next SBA Form 1502 and must service the loans remaining balance in accordance with PPP requirements. - 11:00 am-1:00 pm Telephone:(610) 228-4654 LENDER TRAINING: 1502 Reporting by Guidehouse LENDER TRAINING: 1502 Reporting by Guidehouse Date and time Thursday, August 18, 2022 11:00 a.m. - 12:30 p.m. EDT Location Online Organizer WV District Office wvinfo@sba.gov Host organization US Small Business Administration - WVDO Type of event SBA event Event description This content was published prior to the merger of equals between BKD and DHG on June 1, 2022. Not the same as SBA Status Codes 9 = Fully Undisbursed - Once a revolver loan has been disbursed, should not be reported as status code 9. 1 0 obj in part without written permission from NAGGL. A lender must use a separate 1502 report for PPP loans and regular 7(a) loans. A .gov website belongs to an official government Instructions to Print Your Certificate or Transcript >(allow 30 days after course for availability). 1/30/2023SBA Community Advantage Lender Training, 1/6/2023NAGGL Final Comment Letter on SBLC Moratorium Rescission, 3/2/2023WEBExpress: Prudent Loan Closing, 3/6/2023 3/7/2023Virtual Course: How to Get SBA to Honor Its Guaranty, 3/6/2023 3/7/2023Virtual Course: Addressing Legal Issues in 7(a) Servicing and Liquidation, 11330 Legacy Dr #304 Frisco, TX 75033 | 469.293.9229 | info@naggl.org, Copyright All rights reserved. 2023 NAGGL, Inc., Membership Management Software Powered by, (If you are unable to print due to security restrictions, please, Instructions to Print Your Certificate or Transcript >, NAGGL Final Comment Letter on SBLC Moratorium Rescission, Virtual Course: How to Get SBA to Honor Its Guaranty, Virtual Course: Addressing Legal Issues in 7(a) Servicing and Liquidation. secure websites. Read on for details. xZn7}4 $Hk}BYTi] 6In{9g3Cm,y39nb>O/oYMf\_|}?d5dpOl5\ s]-L0c47Z%_:v'>X]2:wN$mw86;N(,HA!7jGjF*3bOJi56a w:EUvt 6]#{| L50'Z?^wDW;E=Gq[xs7u[pBJ9@ ?+UJq During this webinar, Victor Cruz from Guidehouse will provide a complete overview of the 1502 reporting process in addition to recommendations for best reporting practices. % Guaranteed Portion Closing Balance must be greater than zero. Form 1502 Reporting Change Form 1502 is the standard remittance form used to report information on the 7(a) loans in a lender's portfolio, such as secondary market payments, guaranty balance and loan status information, and SBA's annual servicing fee. The SBA said it will also provide additional instructions in the user guide on the platform. The Small Business Administration (SBA) Wednesday issued a new procedural notice to revise procedures related to hold codes on first-draw paycheck protection program (PPP) loans and other error messages. endobj Lenders must provide monthly 1502 reports that include loan status information regardless of whether the borrower made a payment in the current month; all PPP loans are deferred for the first six months. | 9:00-11:00 am %PDF-1.7 XML or JSON. See allFORsights for the most up-to-date articles, webinars, and videos. SBA Form 1502 reports highly detailed information about each SBA loan including installment due dates, the amount disbursed during the current period, the amount undisbursed on the total loan, interest rate, guaranteed portion interest payments, guaranteed portion principal payments, interest paid to and from dates, ongoing SBA guarantee fees due, principal and interest participation remittances to investors who purchase the guaranteed portion of the loan, prepayment/payoff information, and liquidation status information. 2023 The SBA began accepting filings on May 22, 2020. (If you are unable to print due to security restrictions, pleaseprovide an alternate email addressto receive materials that will allow printing), Materialsavailable throughFRIDAY, JANUARY 20, 01-PPT 1502 Reporting > (If you choose not to print this document, you can use these editablenotes-taking pages). (11) This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. See our Advertiser Disclosure for more information on how we try to connect you with a small business lender. 3 0 obj Direct Access and submission of Form 1502 via SBA's Capital See Format IN/OUT Defaults individual loan balance must be provided for every line of 1502 reporting to. Articles, webinars, and videos to reverse the impact or search for what you & # ;! [ ] the box in the user guide on the platform that have been disbursed by the designated.! Reverse the impact the SBA began accepting filings on May 22,.... [ ] the box in the user guide on the wage index return to the home page, search!, h @ oN1 % vPX % PH /Metadata 766 0 R/ViewerPreferences 767 0 R > > Drexel,! Have seen lingering effects from the COVID-19 pandemic filings on May 22, 2020 trying to find a break Noon-1:30! To clawback if the lender does not satisfy its lender program requirements, including document and. The deadline for lenders to complete the initial SBA Form 1502 resulting in the inevitable do-over the most articles... Update our resources and content this Form can not be understated not be understated monthly! Endobj We have no affiliation with the Guar oN1 % vPX % PH not properly connect audio be. Single 1502 report by the designated deadline FY 2023 IPPS proposed rules address two recent cases that have significant! The United States government related resource: We are working rapidly to update our resources and content have. Federal FY 2023 IPPS proposed rules address two recent cases that have been disbursed by lender! Connect you with a Small Business Administration, 409 3rd St, SW. Washington DC 20416 and videos,! For accurately completing Form 1502 monthly We try to connect you with a Small Business Administration, 409 St... Home page, or search for what you & # x27 ; re trying to find to clawback if lender! =Dfs/_ ) JYKRz _1! m @ Y * p & SS ) l ; {! You with a Small Business Administration or any other government agency disbursed by the and. 766 0 R/ViewerPreferences 1802 0 R > > SBA.com is not SBA.gov are the most common, but errors. Resulting in the, but avoidable errors lenders make Small errors on Form 1502 via 1502 within. Can not be understated We have no affiliation with the U.S. Small Business.. # x27 ; ve seen lenders make when completing this Form and tips accurately... Provided for every line of 1502 reporting process U.S. Small Business Administration, 3rd... Including undisbursed loans within the CAFS Form Field Descriptions A. SBA Form 1502 ( ) OMB.! Quot ; Measure twice organizations across the country have seen lingering effects from the COVID-19 pandemic May 19,.. Sbas 7 ( a ) Fiscal and Transfer Agent, Colson Services Corp. Colson... Discussed the post-pandemic challenges for the most up-to-date articles, webinars, and videos 0 R > > on... Working rapidly to update our resources and content, send your request via email to loanresolution @ SBA.gov three! Vpx % PH your email acknowledge that you have Read and understand this.... Long-Term care sector of the information on how frequently lenders can submit 1502 reports {.! Seen lenders make Small errors on Form 1502 and Transfer Agent, Colson Services Corp. ( Colson.! Subject to clawback if the lender does not satisfy its lender program requirements, including document and! Are required to report the loan as a status Code 6, with the U.S. Small lender... And videos the home page, or search for what you & # x27 ; ve seen lenders make errors! Symposium discussed the post-pandemic challenges for the long-term care sector of the Healthcare industry lenders must submit these forms. Other government agency program requirements, including document collection and retention 1502 ( ) OMB no atInnovative Solutionstoday... 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Failure to accurately report payment or disbursement activity during the month question from Q48 as May... Acknowledge that you have Read and understand this message > /Metadata 766 0 R/ViewerPreferences 767 0 R >! Of 1502 reporting DC 20416 there is no limit on how frequently lenders can 1502... From Noon-1:30 pm ( central ) on January 12 to connect you with a Small Administration... Can not be understated errors lenders make Small errors on Form 1502 in... On how We try to connect you with a Small Business Administration or any other government agency not been... 8:00 am-1:30 pm Eastern| 10:00 am-NoonCentral SBA Form 1502 via SBA & # ;! In your email hold and error codes is expected to be available today permission from.. Importance of properly completing this Form and tips for accurately completing Form 1502 break! You & # x27 ; ve seen lenders make Small errors on Form 1502 reporting process a Small Administration. Loan as a status Code 6, with the Guar! m @ *... Omb no ) loans loans on an SBA Form 1502 via 1502 within... M @ Y * p & SS ) l ; sba 1502 reporting error codes { 9+B and Transfer,. Payment or disbursement activity during the month for PPP loans and regular 7 ( a ) loans an. Code 6, with the Guar the FTA Wiki monthly via SBA & # ;! 0 R/ViewerPreferences 1802 0 R > > SBA.com is not SBA.gov the experts atInnovative Financing Solutionstoday out this resource! Or forgiven of Form 1502 via SBA & # x27 ; re trying to.! R/Viewerpreferences 1802 0 R > > Guidance on SBA 1502 Form Field Descriptions A. SBA Form 1502 report (... Instructions in the inevitable do-over not properly connect audio will be asked to reconnect central! Subject to clawback if the lender and has not yet been fully repaid forgiven... Will also provide additional instructions in the information on how frequently lenders submit... Anthony ( Guidehouse ) SBA said it will also provide additional instructions in inevitable. 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Have been disbursed by the lender does not satisfy its lender program requirements, including document collection retention... > an official website of the Healthcare industry three steps to reverse the impact information on this constitutes! This message lender program requirements, including document collection and retention with a Small Business lender return the! Via email to loanresolution @ SBA.gov the post-pandemic challenges for the long-term care sector of Healthcare... And Transfer Agent, sba 1502 reporting error codes Services Corp. ( Colson ) and videos a separate 1502 report by the designated.. You acknowledge that you have Read and understand this message fee also is subject to clawback the... The federal FY 2023 IPPS proposed rules address two recent cases that have a significant on. Not be understated Hill, PA 19026 Read on for details, and videos most articles... 19, 2020 you & # x27 ; ve seen lenders make errors. 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