SBA Form 3507 CARES Act Section 1102 Lender Agreement - Non-bank and Non-insured Depository Institution Lenders

What Is SBA Form 3507?

This is a legal form that was released by the U.S. Small Business Administration on April 1, 2021 and used country-wide. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is SBA Form 3507?
A: SBA Form 3507 is a lender agreement form related to the CARES Act Section 1102 loan program.

Q: Who is this form for?
A: This form is for non-bank and non-insured depository institution lenders.

Q: What is the purpose of this form?
A: The purpose of this form is to establish the agreement between the lender and the Small Business Administration (SBA) for participating in the CARES Act Section 1102 loan program.

Q: What is the CARES Act Section 1102 loan program?
A: The CARES Act Section 1102 loan program provides loans to small businesses to help them cover payroll and other expenses during the COVID-19 pandemic.

Q: What are the responsibilities of the lender under this agreement?
A: The lender is responsible for originating and servicing loans under the CARES Act Section 1102 program, in compliance with SBA requirements.

Q: Are non-bank and non-insured depository institution lenders eligible to participate in the CARES Act Section 1102 loan program?
A: Yes, non-bank and non-insured depository institution lenders are eligible to participate in the program.