Q. What is the purpose of the Transition Phase Alert System?
A. The Transition Phase Indicator, the tri-color graphic on the SBA Loan Queue web page, is intended to give lenders and potential borrowers a simple way of knowing whether loans are being accepted into the SBA Loan Queue and the likelihood of a newly submitted Jobs Act loan being funded. In the first two phases of the transition period, lenders have the choice of submitting loan applications for processing as a non-Jobs Act loan with all applicable fees and lower guaranty levels, or as a Jobs Act loan and, once conditionally approved by SBA, the application will be given a loan application number and placed in the SBA Loan Queue . The color-coded Transition Phase Indicator, along with other information on the SBA Loan Queue web page provides information so that lenders and borrowers can make an informed choice between submitting loans as non-Jobs Act loans or as Jobs Act loans subject to funds becoming available.
Below is an explanation of the three color-coded phases of the transition:
Green – In this early phase, a small amount of the Jobs Act funding remains and the likelihood of receiving final loan approval with Jobs Act fee relief and/or an increased guaranty level is high. When the status of the Transition Phase Indicator is Green, there is no guarantee of funding, but there is the highest likelihood throughout the Green phase that new loan applications that have been conditionally approved by SBA (subject to the availability of Jobs Act funds) will be funded (as evidenced by receipt of an SBA loan number).
Yellow – This second phase of the transition is when loan applications in the SBA Loan Queue begin to experience delays awaiting funding. The transition will shift to the Yellow phase when the Jobs Act funding for fee relief and higher guaranties is exhausted and additional funding only becomes available when lenders cancel previously approved Jobs Act loans, allowing those funds to be applied to conditionally approved new loan applications or to requests for increases to previously approved Jobs Act loans.
Red – SBA will continue to monitor lending activity daily to determine the date at which the SBA Loan Queue will no longer be able to accept new loan applications for possible funding and will provide further guidance at that time.
Q. How do I know how many loans are ahead of me?
A. The loan application number is the key to knowing your place in line for funding of new Jobs Act loan applications or increases. If you do not know your loan application number, click here to enter a secure site where you can find out if you have a loan application number.
Once you know your loan application number, you can submit an electronic request that will identify the number and dollar amount of all new loan applications or requests for increases ahead of yours in the SBA Loan Queue. Click here to enter your application number.
This information is provided to assist you in deciding whether it makes sense to remain in the Queue or to request that your lender withdraw your loan application from the Queue and re-submit it as a non-Jobs Act loan with all applicable fees and lower guaranty levels.
(Note: If the computer search does not find a loan application number for your loan application, SBA may still be reviewing the request including requiring additional information from the lender or CDC. Try contacting the lender or CDC to inquire about your loan application number or check back with the site to see if the number has become available.)
Q. How do I find my Loan Application Number?
A. When the loan application submitted by your lender is conditionally approved by SBA subject to Jobs Act funding, a loan application number is generated and the loan application is placed in the SBA Loan Queue awaiting funds.
You must know the Federal ID number of the business or the Social Security Number of one of the owners or guarantors in order to retrieve the loan application number. Click here to proceed.
Q. What does it mean if I cannot find my Loan Application Number?
A. When the loan application submitted by your lender is approved by SBA subject to Jobs Act funding, a loan application number is generated and the loan application is placed in the SBA Loan Queue awaiting funds.
If the computer search does not find a loan application number for you, SBA may still be reviewing the request including requiring additional information from the lender.
Try contacting the lender to inquire about your loan application number or check back later with the site to see if the number has become available.
A. Contact your local District Office – Each SBA District Office and many of our other satellite offices are staffed by SBA Lender Relationship Specialists and/or Brand Managers who have been specially trained to assist lenders with SBA loan processes. Click here to identify the office nearest you for assistance.
