Yesterday SBA dropped a new Technical Update to SOP 5010 8, officially replacing the version originally published on April 22, 2025. The changes go into effect for any loan that gets an SBA loan number on or after June 1, 2025.

Lance Sexton will host a live Coleman webinar on Thursday, June 5 at 2PM Eastern to walk you through the changes, what they mean, and how to stay compliant.

The update was quietly pushed out via an SBA Office of Capital Access email. Here’s what lenders need to know:

Where to Find the New SOP

SBA included temporary links to three documents:

• SOP 5010 8 with technical updates (“clean” final version – will appear on SBA’s website soon);
• SOP 5010 8 in track changes (this will not be posted to the SBA website because it is not compatible with screen readers used by the sight-impaired)
• Information Notice 5000-866746 on the issuance of the SOP with technical updates (temporary link – will be on SBA’s website shortly)

Key Changes Lenders Must Know

The update includes a mix of clarifications, new mandates, and compliance guidance. Here are the top updates Lance will review in our June 5 webinar:

• Eligibility: Only U.S. businesses qualify. All owners, direct and indirect, must live primarily in the U.S.
• Ownership in E-Tran: Lenders must input 100% ownership into E-Tran, including indirect owners.
• CAIVRS Required: All applicants must be checked in CAIVRS with no exceptions.
• Legal Fees: SBA clarifies what attorney fees can be charged to borrowers.
• IRS Workaround: If IRS says “no record found,” SBA allows a workaround if certain rules are followed.
• Partial Ownership Changes: SBA clarified who must guarantee, co-sign, and what collateral is required.
• Interest-Only Terms: 7(a) loans can have interest-only periods and still be sold on the secondary market.
• Collateral Rules: New guidance on when to take personal real estate and updated rules for vehicle liens.

Lance will cover all of this, and field your questions, on June 5 at 2PM Eastern.

Don’t Forget: Delegated Processing Rules Tighten

SBA’s email included a reminder for PLP lenders: Going forward, all loans must be processed under your delegated authority unless you’re refinancing same-institution debt or making an International Trade loan where the collateral isn’t in first lien position.

More Changes Coming Soon

SBA will also be rolling out updated forms:

• SBA Form 148-L: Non-fillable version coming within days; final version to follow.
• SBA Forms 1919 and 1244: Updates coming as soon as SBA finishes the revision process.