SBA Form 2511 MICROLOAN INTERMEDIARY SITE VISIT/REVIEW NOTIFICATION LE

U.S. SMALL BUSINESS ADMINISTRATION

OMB Control Number 3245-0365

Expiration Date XX/XX/XXXX

MICROLOAN INTERMEDIARY SITE VISIT/REVIEW NOTIFICATION LETTER AND FORM

Sent via e-mail to: [Intermediary’s Executive Director/President/CEO]

[Enter Date of Letter Here]

[Intermediary’s Executive Director or President or CEO’s name]

[Title]

[Intermediary Name]

[Physical address]

[City, State and Zip Code]

Re: Site Visit/Virtual Review of Microloan Program

Dear [Mr./Ms. CEO or President’s Last Name]:

Pursuant to 15 USC 657t(c)(2) and 13 CFR §120.1050, SBA’s [District Office Name] will be conducting a Virtual Review of your organization’s SBA Microloan operations, including a full review of three Microloan files. In conjunction with the review, SBA requires Intermediary to submit the below information to assist SBA in performing the review and assessing an Intermediary‘s SBA performance and compliance with SBA Loan Program Requirements.

The Microloan files selected for review are as follows:

SBA Loan Number	Borrower Name	MPERS Seq. #	Lender Loan #

Please provide a copy of documents listed on the attached checklist by [district office must provide lender with 30 days to provide requested documents – enter due date here. Also, ensure that due date is at least one week prior to actual virtual review]. The documents must be delivered to the [District Office Name] via file transfer folder, Box.com. The link to this folder is here: [ ]

Please click on this link and then click on the “Browse your device” link to select files to upload for this review.

[SBA reviewer’s name] from the [District Office Name] will manage the SBA review. A virtual meeting or conference call will be scheduled with [Intermediary’s name] Executive Director (ED) and any staff the ED wants to include for the [enter date of virtual review here] virtual review. SBA will review the microloan files prior to this conference call.

As each Microloan file is reviewed by SBA, [SBA Reviewer’s name] may have questions about the file or may request additional information. Please provide contact information for the employee at [enter Intermediary’s name here] that will be managing the review process.

If there are any questions regarding this virtual review, please contact [SBA Reviewer’s name] at [Email address or phone number].

Thank you in advance for your cooperation.

Sincerely,

[Name]

[Title]

[District Office Name]

PLEASE NOTE: You are not required to respond to any collection of information unless it displays a currently valid OMB Approval number. The number for this collection of information is 3245-0365. The total estimated time to respond to this collection of information, including gathering and maintaining the data needed, and completing and reviewing the collection of information, is 510 minutes. You may send comments or questions regarding this estimated time or any other aspect of this collection of information including suggestions for reducing the time or other burden to: Director, Records Management Division, 409 Third Street, S.W., Washington D. C. 20416, and Desk Officer for the Small Business Administration, Office of Management and Budget, New Executive Office Building, Room 10202, Washington DC 20503.

Please provide SBA with the following items for the upcoming Microloan Intermediary Review by (LRS to insert date here):

**Please note, in general, for information that has already been provided by an Intermediary but is unchanged, the Intermediary may certify that the information was already provided and is unchanged in lieu of resubmitting the information. The certification that must accompany this document submission must also state to whom and on what date the information was provided to SBA.

Please provide the following items for your organization:

1. Contact Information for the following:

• CEO/Executive Director/President

• Chairman of Board of Directors

• Main Contact for Microloan Program

Include First & Last Name, Email Address and Phone Number for each contact.

2. Organizational Chart

• A listing of all individuals on the Board of Directors and the name and title of employees involved in the SBA Microloan and Technical Assistance (TA) programs.

3. Photo of original Microloan Notes placed in a “disaster proof” loan filing system.

4. Current version of Intermediary’s Microloan Internal Credit Policies and Procedures (if not previously provided or updated).

Please provide the following items for loan file review for each of the three loans requested in this letter:

1. Loan intake form or application materials

2. Credit memo. If not prepared then other credit analysis and supporting documentation.

3. Final Decision Document. Document must include Approving Officer’s name, title, and signature.

4. If loan is over $20,000, No Credit Elsewhere documentation

5. Copy of Lender’s documentation (such as a Credit Alert Verification Reporting System (CAIVRS) Report) to ensure that the applicant does not have any delinquent debt to the Federal Government.

6. Proof of Borrower’s Business Legal Structure

(e.g., Business Tax Returns, IRS-issued EIN, Business License, Business Permit, entity formation filing with Secretary of State, Bylaws, Articles of Membership or Incorporation, etc.)

7. If applicable, Copy of Permanent Resident Card (front & back), I-551, or other evidence of legal status and authorization to work

8. Copy of Note and any modifications to the Note

9. Evidence of Use of Proceeds (e.g., inventory or equipment purchase receipts].

10. SBA Form 1624 (Certification Regarding Debarment)

11. If required, evidence of filed security interests

(e.g., UCC-1 filing, Vehicle Title, Deed of Trust, etc.)

12. If applicable, Guaranty Agreements

13. Transcript of Account or Loan Payment & Aging History

14. Evidence of Technical Assistance Record

15. Documentation from Applicant for the Number of Jobs Created and Retained - example of acceptable documentation includes written borrower certification of jobs created and retained disclosed by applicant via email

16. Documentation of any out-of-pocket closing costs and packing fees that were charged to Microborrower, such as filing or recording fees, collateral appraisals, credit reports, and other such direct charges related to loan closing.

The Privacy Act information you provide will not be disclosed outside of the SBA, except with your consent, and as otherwise allowed by the Privacy Act of 1974, 5 U.S.C. §552a, or unless the information is subject to disclosure under the Freedom of Information Act. 5 U.S.C. §552. The Privacy Act authorizes SBA to make certain “routine uses” of information protected by that Act, which are set forth in SBA’s Systems of Records Notice SOR #21 Loan System at https://www.sba.gov/about-sba/open-government/privacy-act#:~:text=SBA%27s%20System%20of%20Records%20Notices%20(SORNs). SBA has instituted procedures to protect confidentiality and only aggregate and summary data will be provided as appropriate.

SBA Form [2511]