Financial Institution Letters
|Underwriting Standards for Small Business Loans Originated Under the Small Business Lending Fund Program
December 23, 2010
FIL-90-2010 - PDF (PDF Help)
|| The Small Business Lending Fund (SBLF) Program was created pursuant to the Small Business Jobs Act of 2010 and directs the federal banking agencies to issue guidance regarding prudent underwriting standards for small business loans made with SBLF funds by SBLF participating institutions. The guidance is attached.
- The U.S. Department of the Treasury ("Treasury") is administering the SBLF Program. The Small Business Jobs Act of 2010 requires the federal banking agencies to issue small business loan underwriting guidelines for program participants.
- Boards of directors of institutions participating in the SBLF Program should ensure that small business lending policies are consistent with the attached guidance and safe and sound lending practices.
- If an SBLF loan involves a Small Business Administration (SBA) guaranty, the institution should adhere to the SBA's requirements.
- State nonmember institutions applying to Treasury to participate in the SBLF Program should submit their small business lending plan to the appropriate FDIC regional office or through FDICconnect.
FDIC-Supervised Banks (Commercial and Savings)
Chief Executive Officer
Chief Lending Officer
Small Business Loan Officers
Part 323 of the FDIC Rules and Regulations
Part 364 of the FDIC Rules and Regulations
Part 365 of the FDIC Rules and Regulations
Interagency Statement on Meeting the Credit Needs of Creditworthy Small Business Borrowers, issued on February 12, 2010.
Minimum Underwriting Standards for Small Business Loans Originated Under the Small Business Lending Fund Program
Senior Examination Specialist Bill Baxter, (202) 898-8514, or email@example.com
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2010/index.html.
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Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).