With the enactment of the Small Business 7(a) Lending Oversight Reform Act in 2018, the Small Business Administration (SBA) released its proposed rule on the Small Business Lender Oversight Reform Act which sought to increase the agency’s guidance oversight on lenders who participate in the SBA's business loan programs. The proposed rule also included revisions on the Lender Supervision and Enforcement Standard Operating Procedures.
Additionally, at the close of 2019, SBA issued several notable final and proposed rules relating to SBA’s various small business government contracting programs. Specifically, SBA finally implemented the Runway Extension Act of 2018, thereby marking a major shift in how to calculate a concern’s size for revenue-based size standards. SBA also adopted changes on how it will determine compliance with the limitations on subcontracting. Finally, SBA’s proposed rule to merge the 8(a) Mentor Protégé and All Small Mentor Protégé programs came with a sweeping number of additional proposed changes that would have a major impact on compliance with SBA’s regulations.
These notable developments confront lenders, intermediaries, and small businesses with a myriad of potential red flags that, if not mitigated, could incur legal liabilities and costly penalties. Thus, they must keep themselves abreast of the emerging developments in the regulatory paradigm. An in-depth understanding of the proposed rules are also essential to ensure compliance.
Listen to lawyers, Barry A. Furman (Fineman Krekstein & Harris) and Alissandra D. Young (Morrison & Foerster), as they delve into an in-depth analysis of the current trends and developments in the SBA’s enforcement actions. Speakers will also provide the audience with practical compliance strategies in a rapidly evolving legal climate.
This LIVE webcast will discuss the following key provisions:
- Small Business Administration Law: Trends and Updates
- Small Business Lender Oversight Reform Act Proposed Rule
- Runway Extension Act of 2018
- Most Notable Developments
- Critical Issues
- Best Compliance Practices
- What Lies ahead