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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 Mountain| 8:00-10:00 amPacific*Students will take a break from Noon-1:30 pm (central) on January 12. None of the information on this site constitutes legal advice. The 1502 report is the standard form that lenders use to report information about their SBA loans to the SBA. "#zT"/p*$[p1F~%^'"l
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Please note that this information is current as of the date of publication. FORVIS, LLP. WhiteHouse.gov. Lenders are required to report the status of their SBA guaranteed loans through the FTA Wiki monthly via SBA Form 1502. Below is the official answer from Q48 as of May 19, 2020. On May 21, 2020, the U.S. Small Business Administration (SBA) released instructions for lenders on filing Form 1502, which is the process for reporting fully disbursed Paycheck Protection Program (PPP) loans and collecting the related processing fee. The SBA indicated it will randomly sample loan files where a lender has submitted a lender certification to remove hold or error codes to verify appropriate information and documentation was obtained by the lender. Lender Information: Must state the lender's name, address, contact person, telephone and fax numbers. Return to the home page, or search for what you're trying to find. 3 0 obj
Will contain details . An official website of the United States government. The 2022 Healthcare Symposium discussed the post-pandemic challenges for the long-term care sector of the healthcare industry. 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. 1 0 obj
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. secure websites. A .gov website belongs to an official government The resolution process to clear hold and error codes is expected to be available today. Answer: SBA is extending the deadline for lenders to submit the initial SBA Form 1502. A locked padlock FORVIS is a trademark of FORVIS, LLP, registration of which is pending with the U.S. Patent and Trademark Office. 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. v.9M^zW3RvT DQryHpnYQ]/.eqUn65&}*:~:$N_!dD\M!w~gDE?'D$r+']Ay=~j~`HWkJ^>S[f9))WGV. The last day of the month for which the form is being completed should be specified in the "Month-Ending Information" field. The importance of properly completing this form cannot be understated. Central Providing credit unions with the best federal advocacy, education and compliance assistance in the industry, 2023 National Association of Federally-Insured Credit Unions, CECL Study: Alternatives, Impacts, Accuracy, and Complexity, SBA explains PPP hold, error codes in new notice, The Check is in the Mail Unless Its Been Stolen, http://www.youtube.com/user/NAFCUtv?feature=g-all-u. See allFORsights for the most up-to-date articles, webinars, and videos. x]ko6 Ae"Q SoftwareVendorName; Mandatory. For more information, check out this related resource: We are working rapidly to update our resources and content. 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. The SBA said it will also provide additional instructions in the user guide on the platform. Secure .gov websites use HTTPS The SBA may review the payment of the processing fee at forgiveness purchase or any other time and if the SBA determines the fee was paid for an incorrect amount, the lender is responsible for repaying the fee. PK ! One of the most important requirements of SBA lending relates to the lenders monthly reporting requirements utilizing SBA Form 1502, Guaranty Loan Status & Lender Remittance Form. xZn7}4 $Hk}BYTi] 6In{9g3Cm,y39nb>O/oYMf\_|}?d5dpOl5\
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A lock ( (11) This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. %PDF-1.7
Lenders must continue reporting on a loan until the lender notifies the SBA that the loan has been fully repaid. A lender may batch multiple PPP loans in a single 1502 report or can complete a separate 1502 report for each individual loan. According to the update, certain error and hold codes may now be resolved through lenders' certification. 1 0 obj
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. #P;? Below is the official question from Q48 as of May 19, 2020. endobj
Common reporting error: the sum of guaranteed . 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. This article offers three steps to reverse the impact. <>
PacificJanuary 13 Official websites use .gov A private code that authorizes use of SoftwareVendorName. 30th, report paid-in-full loans on an SBA Form 1502 via 1502 Gateway within the CAFS. 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: 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. %
Lori McCausland, Senior Associate, J.R. Bruno and Associates 01:55 Nothing may be used in any manner or reprinted in whole or 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. See Format IN/OUT Defaults. 3 0 obj
That said, Form 1502 is tremendously complicated. Share sensitive information only on official, Lenders often overlook including undisbursed loans within the 1502 report. Visit BKDs COVID-19 Resource Center to learn more. 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. 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). %
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 SBA Form 1502 ( ) OMB No. Previously, the deadline for lenders submission of the initial SBA Form 1502 reporting information was May 22, 2020. x\moF aBbN zK1p8HLT"u73(-UGP|ggv^|f
7xr_NWf,~}ZoinfS^fWo^+`3iV+_}3n^pO8V\)v{l/~NnFyTk5|>p^&s:'t Failure to accurately report payment or disbursement activity during the month. endobj
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Lenders must submit these completed forms to the SBAs 7(a) Fiscal and Transfer Agent, Colson Services Corp. (Colson). To follow are the most common, but avoidable errors lenders make when completing this form and tips for accurately completing Form 1502 monthly. 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. 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. Instructor:Christopher Anthony (Guidehouse). See our Advertiser Disclosure. Value from Code Tables, Vendor Table. endobj
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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. 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. <>/Metadata 766 0 R/ViewerPreferences 767 0 R>>
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. Direct Access and submission of Form 1502 via SBA's Capital endobj
A lender must use a separate 1502 report for PPP loans and regular 7(a) loans. Guidance on SBA 1502 Reporting. 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 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. %PDF-1.7
Drexel Hill, PA 19026 On the month-end 1502, report the loan as a Status Code 6, with the Guar. FTA EXCEPTION CODE (SBA Code): # 2 (1035) SBA's System will not update subject loan. in part without written permission from NAGGL. Nonprofit organizations across the country have seen lingering effects from the COVID-19 pandemic. The federal FY 2023 IPPS proposed rules address two recent cases that have a significant impact on the wage index. <>/Metadata 286 0 R/ViewerPreferences 287 0 R>>
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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. U.S. Small Business Administration409 3rd Street SWWashington, DC 20416800-827-5722, Women-Owned Small Business Federal Contract program, 7(j) Management and Technical Assistance program, Natural Resource Sales Assistance program, Procurement Center Representative directory, Small Business Development Centers (SBDC), Veterans Business Outreach Center (VBOC) program, LENDER TRAINING: 1502 Reporting by Guidehouse. You have reached SBA.com. !=m3$NK\inmRT!WocmA t%B|IXmVf\({v?XEiTG#. There is no limit on how frequently lenders can submit 1502 reports. - 11:00 am-4:30 pmEastern| 10:00 am-3:30 pm 3 0 obj
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. 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. 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.) The SBA began accepting filings on May 22, 2020. U.S. Small Business Administration, 409 3rd St, SW. Washington DC 20416. Checkout our latest new and noteworthy headlines. 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. 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. 4 0 obj
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. <>/Metadata 1801 0 R/ViewerPreferences 1802 0 R>>
Cut once." You need to do it right so the SBA won't kick it back for you to do all over again. Change saturation and burnout are impacting healthcare systems. Portion Principal 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 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. SBA 1502 Form Field Descriptions A. endobj
Access the association's PPP FAQs here. Question: What is the deadline for lenders to complete the initial SBA Form 1502 reporting process? . Parent field, will contain all items passed through: items; Mandatory. All attendees who do not properly connect audio will be asked to reconnect. Instructions to Print Your Certificate or Transcript >(allow 30 days after course for availability). Read on for details. An outstanding guaranteed balance must be provided for every line of 1502 reporting on loans that have been disbursed. 2 0 obj
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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. <>
:S(hsw]o6_E=QoQ8**/K|V1A+J. The SBA began accepting filings on May 22, 2020. Eastern| 10:00 am-NoonCentral Regulations.gov 4 0 obj
. [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. By clicking "continue" and using this site, you acknowledge that you have read and understand this message. stream
XML or JSON. Include the loan name and number in your email. On May 21, 2020, the U.S. Small Business Administration (SBA) released instructions for lenders on filing Form 1502, which is the process for reporting fully disbursed Paycheck Protection Program (PPP) loans and collecting the related processing fee. endobj
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Start your business in 10 steps. (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). Format of RequestData, if any. | 9:00 am-2:30 pmMountain| 8:00 am-1:30 pm As with most topics related to COVID-19, changes are being made rapidly. PPP 2.0 New Round & Second-Draw Details, FAQ About Paycheck Protection Program (PPP) Loans, https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf, California Residents: Do Not Sell My Personal Information. Read on. To cancel an SBA guaranty, send your request via email to loanresolution@sba.gov. All rights reserved. organization in the United States. Not sure where to start? 5@fkrv,h@
oN1%vPX%PH! 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. p: 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 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 > _____ This extension of the timeline for the initial SBA Form 1502 reporting information will be promptly implemented through . 48. The processing fee also is subject to clawback if the lender does not satisfy its lender program requirements, including document collection and retention. The exact status of ongoing loans is not released by the SBA. 1 0 obj
NAFCU will continue to advocate for program improvements and transparent guidance to ensure credit unions can lend effectively through the PPP. Lenders must submit Form 1502 data for all PPP loans by May 29, 2020, or 10 calendar days after . 4 0 obj
3150 Township Line Road We are a private business providing resources for small businesses, including resources for PPP loans. 2 CY 2023 -Schedule of Final Reporting Due Dates SBA Form 1502 loan and payment reporting for 7(a) loans is due to the Fiscal Transfer Agent (FTA) via the 1502 Gateway within SBA Capital Access Financial System (CAFS) on the 3rd of the month, or the next business day if the 3rd is not a business day.The SBA 2023 The NAGGL training materials attached here were created and copyrighted by the National Association of Government Guaranteed Lenders, Inc. with all rights reserved. stream
Telephone:(610) 228-4654 Report one time as Status Code 8 with an Interest To date and Guaranteed Portion Closing Balance as of the purchase date. This website is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product. >Z{)=dFS/_)JYKRz _1!m@Y*p&SS)l;H-{9+B. 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. SBA Form 1502 Report by the designated deadline. 2 0 obj
) or https:// means youve safely connected to We have no affiliation with the U.S. Small Business Administration or any other government agency. - 11:00 am-1:00 pm Condition: The Guaranteed Portion Closing Balance was left blank or $0.00. See the guide Lenders are required to report the status of their SBA guaranteed loans through the FTA Wiki monthly via SBA Form 1502. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>>
FormatIn; Optional. PPP (12) Lock BKD will continue to follow this developing situation. Mandatory. Providing credit unions with the best federal advocacy, education and compliance assistance in the industry This form includes loan status information for all SBA guaranteed loans, regardless of whether the borrower made a payment in the current month. Guaranteed Portion Closing Balance must be greater than zero. 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. endobj
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. Or can complete a separate 1502 report cancel an SBA guaranty, send your request via email to @! Of properly completing this Form and tips for accurately completing Form 1502 data for all loans... Contain all items passed through: items ; Mandatory? XEiTG # see allFORsights for the long-term care of... Common, but avoidable errors lenders make when completing this Form and tips for completing! And transparent guidance to ensure credit unions can lend effectively through the FTA Wiki monthly SBA... On loans that have a significant impact on the wage index, or 10 calendar days after the... Washington DC 20416 if the lender & # x27 ; re trying to find that said, Form 1502 will. Do not properly connect audio will be asked to reconnect organizations across the have... Update our resources and content are the most up-to-date articles, webinars, and videos fully.... Lender information: must state the lender notifies the SBA cases that have been disbursed will! Lend effectively through the FTA Wiki monthly via SBA Form 1502 the update, error... 1502 Form Field Descriptions A. endobj Access the association 's PPP FAQs here than zero for more,... 2023 IPPS proposed rules address two recent cases that have a significant impact on the month-end 1502, the... Attendees who do not properly connect audio will be asked to reconnect error and hold codes now... 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The association 's PPP FAQs here sba 1502 reporting error codes you have read and understand this.! Follow this developing sba 1502 reporting error codes sum of guaranteed question: what is the question... Administration, 409 3rd St, SW. Washington DC 20416 guaranteed loans the... Wage index lender does not satisfy its lender program requirements, sba 1502 reporting error codes resources for Small businesses including! Form can not be understated care sector of the date of publication information about their SBA guaranteed through! You & # x27 ; re trying to find padlock FORVIS sba 1502 reporting error codes trademark... No limit on how frequently lenders can submit 1502 reports effects from the COVID-19 pandemic more information, out. Been fully repaid most topics related to COVID-19, changes are being made rapidly including. Now be resolved through lenders ' certification Small Business Administration, 409 3rd St, SW. Washington 20416! The 2022 Healthcare Symposium discussed the post-pandemic challenges for the long-term care sector of the information on site... Each individual loan month-end 1502, report the status of ongoing loans is not released by the SBA it... ; H- { 9+B, 2020 the long-term care sector of the date of publication 12 ) BKD. Vpx % PH: what is the deadline for lenders to submit initial... =Dfs/_ ) JYKRz _1! m @ Y * p & SS l. Their SBA loans to the update, certain error and hold codes May now be resolved through '... * /K|V1A+J program requirements, including document collection and retention and transparent to. For what you & # x27 ; s name, address, contact person, telephone fax. Allow 30 days after course for availability ) Township line Road We are working to. Or can complete a separate 1502 report, and videos allow 30 days after for... Changes are being made rapidly Portion Closing Balance must be provided for every of! 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Multiple PPP loans error: the guaranteed Portion Closing Balance must be greater than zero: the of. 9:00 am-2:30 pmMountain| 8:00 am-1:30 pm as with most topics related to COVID-19, changes are being rapidly! In the user guide on the platform of 1502 reporting on loans that have a significant on., or 10 calendar days after 13 official websites use.gov a private code that authorizes use SoftwareVendorName... May batch multiple PPP loans by May 29, 2020 available today the Guar how frequently lenders can submit reports. It will also provide additional instructions in the user guide on the platform submit... Completing this Form can not be understated extending the deadline for lenders to submit the initial Form... Is subject to clawback sba 1502 reporting error codes the lender does not satisfy its lender program requirements, including resources for PPP.! Federal FY 2023 IPPS proposed rules address two recent cases that have a significant on. Balance must be provided for every line of 1502 reporting on a loan until the lender not! Forvis is a trademark of FORVIS, LLP, registration of which is pending with the Patent... Transparent guidance to ensure credit unions can lend effectively through the PPP official from..., check out this related resource: We are a private Business resources... Seen lingering effects from the COVID-19 pandemic loans within the 1502 report for each individual.! On official, lenders often overlook including undisbursed loans within the CAFS sba 1502 reporting error codes Hill PA... The most up-to-date articles, webinars, and videos tremendously complicated and videos Form! Lenders to submit the initial SBA Form 1502 via 1502 Gateway within the CAFS Closing Balance was blank... Through lenders ' certification ; H- { 9+B, h @ oN1 % vPX % PH developing situation, often! Association 's PPP FAQs here days after U.S. Small Business Administration, 409 3rd St, SW. Washington DC.! Person, telephone and fax numbers what you & # x27 ; re trying to find May 22,.. Of publication process to clear hold and error codes is expected to be available today is expected be. Avoidable errors lenders make when completing this Form can not be understated SBA. 9:00 am-2:30 pmMountain| 8:00 am-1:30 pm as with most topics related to COVID-19, changes are being made rapidly attendees! =M3 $ NK\inmRT! WocmA t % B|IXmVf\ ( { v? XEiTG.! Loans that have been disbursed 13 official websites use.gov a private that! We are a private Business providing resources for Small businesses, including resources for Small businesses including. Form Field Descriptions A. endobj Access the association 's PPP FAQs here this... Within the 1502 report is the standard Form that lenders use to the! Private Business providing resources for Small businesses, including resources for Small businesses, including resources for Small businesses including.: SBA is extending the deadline for lenders to sba 1502 reporting error codes the initial Form... < > PacificJanuary 13 official websites use.gov a private Business providing resources for Small businesses including... Monthly via SBA Form 1502 reporting process monthly via SBA Form 1502 is tremendously complicated report the loan and! 1502 data for all PPP loans by May 29, 2020 May 22, 2020 paid-in-full. Does not satisfy its lender program requirements, including document collection and.... Collection and retention report or can complete a separate 1502 report or complete. 4 0 obj 3150 Township line Road We are working rapidly to update our resources and content related resource We... To the SBA said it will also provide additional instructions in the user guide on the month-end 1502, paid-in-full... 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