SBA Information Notice: Revised SBA Form 1253
Summary
SBA Information Notice, control no. 5000-20097, effective 2/26/2021, addressed to SBA employees and Certified Development Companies, announcing a revised SBA Form 1253, Certified Development Company (CDC) Annual Report Guide, which CDCs must follow in preparing their Annual Reports. It says the revised form updates and clarifies reporting requirements to match current SBA Loan Program Requirements. Changes include replacing SBA Field Office with Lead District Office, allowing certain documents including the Annual Report to be submitted through the Corporate Governance Repository, and an alternative for Multi-State CDCs to establishing a separate Loan Committee.
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Full text
SBA Information Notice
TO: All SBA Employees and Certified CONTROL NO.: 5000-20097
Development Companies EFFECTIVE: 2/26/2021
SUBJECT: Revised SBA Form 1253
The purpose of this Notice is to announce that SBA has issued a revised SBA Form 1253,
Certified Development Company (CDC) Annual Report Guide, that CDCs must comply with in
preparing their Annual Reports. The revised form updates, clarifies and provides further
guidance on the reporting requirements for Certified Development Companies (CDCs) to
comport with current SBA Loan Program Requirements. The revisions effective as of the release
date of this notice are summarized below:
• The term “Lead District Office” replaces “SBA Field Office”
• The option of submitting certain documents through the Corporate Governance Repository,
including the Annual Report, has been added
• Requirements pertaining to the following have changed:
o Providing Multi-State CDCs with an alternative to establishing a separate Loan
Committee in each State into which the CDC expanded
o Information required for Professional Services Contracts
o Independent Loan Review Package
o 159 Reporting
o 504 Employment Impacts
o Information required regarding Ownership and Control
The estimated burden for the collection of information remains the same at 28 hours.
Notification and Questions
SBA field offices must notify CDCs about the updates to the Form. Questions concerning this
notice should be directed to the lender relations specialist in the local SBA Field Office.
Dianna L. Seaborn
Director
Office of Financial Assistance
PAGE 1 of 1 EXPIRES: 2/1/22
SBA Form 1353.3 (4-93) MS Word Edition; previous editions obsolete
Must be accompanied by SBA Form 58
File and source
- File
- 2021-03_Info-Notice-5000-20097-Form-1253-Issued-508.pdf
- Size
- 203,547 bytes
- SHA-256
- 4e38f7b0797e4e2b492f157db3a9eb1843c78c517794c6cea91470d3e53d3b03
- Original
- www.sba.gov