Information Notice 5000-20066 1502 Payment Due Dates Calendar Year 2021
Summary
SBA Information Notice, control no. 5000-20066, effective December 4, 2020, informing SBA employees, Lenders and Community Advantage Lenders of the SBA Form 1502 report and payment due dates for 7(a) loans in calendar year 2021. Under SBA Form 1086, payments are due at the Fiscal and Transfer Agent (FTA), Colson Services Corporation or its successor, on the third calendar day of the month, with a grace period of two business days, after which a Late Payment Penalty is assessed. The notice lists the final due dates for each month of 2021, from January 6th to December 7th, and expires 12-1-21.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
Full text
SBA Information Notice
TO: All SBA Employees CONTROL NO.: 5000-20066
SUBJECT: Calendar Year 2021 Schedule of 1502 EFFECTIVE: December 4, 2020
Report & Payment Due Dates for 7(a) Loans
The purpose of this notice is to inform SBA employees, Lenders and Community Advantage
Lenders about the SBA Form 1502 report and payment due dates for calendar year 2021.
According to the SBA Form 1086, payments are due at the Fiscal and Transfer Agent (FTA) on
the third calendar day of the month, or the next business day if the third is not a business day.
The SBA allows a grace period of two business days after the due date.
If the FTA receives a regularly scheduled payment after the expiration of the grace period, a Late
Payment Penalty is assessed. The SBA Form 1086 describes the components of the Late
Payment Penalty. Lenders are billed for Late Penalties at the end of each month. Late Penalties
are due to the FTA, Colson Services Corporation or its successor, with the Lender's next monthly
Form 1502 remittance.
Below is a schedule of FINAL due dates, which includes the grace period of two business days
for regularly scheduled payments.
SCHEDULE OF FINAL DUE DATES FOR CALENDAR YEAR 2021
January 6th July 8th
February 5th August 5th
March 5th September 8th
April 7th October 6th
May 5th November 5th
June 7th December 7th
PAGE 1 of 1 EXPIRES: 12-1-21
SBA Form 1353.3 (4-93) MS Word Edition; previous editions obsolete
Must be accompanied by SBA Form 58
Federal Recycling Program Printed on Recycled Paper
Notification and Questions
SBA field offices must notify Lenders about this Notice. Questions concerning this Notice may
be directed to Marybeth Kerrigan in the Office of Financial Assistance at
mary.kerrigan@sba.gov. Questions concerning specific Late Penalties that have been charged to
lenders should be directed to Larry Packer of Colson Services at (212) 635-1996 or email to
latepenalty@colsonservices.com.
Dianna L. Seaborn
Director
Office of Financial Assistance
PAGE 2 of 1 EXPIRES: 12-1-21
SBA Form 1353.3 (4-93) MS Word Edition; previous editions obsolete
Must be accompanied by SBA Form 58
Federal Recyling Program Printed on Recycled Paper
File and source
- File
- 2021-02_Information-Notice-5000-20066-1502-Payment-Due-Dates-CY21-508.pdf
- Size
- 43,950 bytes
- SHA-256
- 1968abd0d48116796e0115b62ba66888a1fbc27d86ee2e2cfb21f831d1f6d35c
- Original
- www.sba.gov