By now, you have already heard the Small Business Administration (SBA) just released the new SOP 50 10 5(K), which includes (among other minor revisions) a couple of notable updates to the environmental policy and a clarification on risk management for construction components above $350,000. These changes will go into effect April 1, 2019.
The impact of these changes will be to further tighten environmental risk and liabilities associated with construction defaults. In general, these changes shouldn’t have a drastic effect on prices, and in some cases, can even help save funds during the underwriting process.
To read the full GlobeSt article detailing the latest SOP changes and key due diligence considerations, click here.
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