SBA issues guidance on 7(a), 504 programs

In addition to its guidance on PPP loan issues, the SBA also issued guidance on Economic Aid Act provisions affecting the agency's 7(a) and 504 loan programs. The procedural notices are as follows:

• 5000-20084: details temporary higher guaranty percentages and fee reductions on eligible 7(a) loans as well as an increase in the maximum SBA Express loan amount.
• 5000-20085: announces the temporary elimination of certain 504 fees.
• 5000-20086: informs lenders that SBA has notified 7(a), 504, and Microloan borrowers of their eligibility for debt relief payments under Section 1112 of the CARES Act.