The U.S. Small Business Administration Issues Its SOP 50 10 5 (H) And Recognizes A Newcomer To The "Qualfied Source" List To Conduct Business Valuations
IRVING, Texas, May 14, 2015 /PRNewswire/ -- The U.S. Small Business Administration issued its new Standard Operating Procedures (SOP) 50 10 5 (H) effective May 1, 2015. For certain guaranteed loans, the SBA requires lenders to obtain an independent business appraisal from a "qualified source." The International Society of Business Appraisers (ISBA) is proud to announce that the SBA recognizes its Business Certified Appraiser (BCA) credential as a "qualified source" to conduct business appraisals for SBA financing.
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"The business owner on Main Street now has an advocate in the SBA loan process in the form of the BCA credentialed business appraiser. The ISBA is pleased to be recognized by the SBA as a source for business valuations that understands how the majority of businesses in America operate," states Daniel Hall, BCA, CBA, MCMEA – President, ISBA.
Scott Gabehart, BA, MIM, CBA, CVA, BCA states, "It is a proud day for the founders and members of the ISBA as their goal of preparing qualified business appraisers to specialize in main street business appraisals is one whose time has come. There is no question that the majority of SBA change of ownership loans which require business valuations are of the main street variety."
"As a former banker, bank regulator and bank consultant, consistency in business appraisals is critical. With the new SBA SOP, appraisers that have the BCA credential are now empowered to prepare appraisals for SBA qualified lenders," states Bob Fritzlan, MBA, NBE, CMEA, BCA.
For more information about ISBA and its Business Certified Appraiser credential, visit www.IntlBCA.com
SOURCE International Society of Business Appraisers (ISBA)
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