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Home Source documents SBA Procedural Notice 5000-834330: Option for Prior Approval Sureties to Submit the “Work in Process” Information Required by SBA Form 994F through eXtensible Business Reporting Language (XBRL)

SBA Procedural Notice 5000-834330: Option for Prior Approval Sureties to Submit the “Work in Process” Information Required by SBA Form 994F through eXtensible Business Reporting Language (XBRL)

Summary

SBA Procedural Notice, Control No. 5000-834330, effective June 29, 2022, to SBA employees and SBA Prior Approval surety partners in the Surety Bond Guarantee (SBG) Program. It announces that Surety Partners and small business concerns may now submit the work in process information required by SBA Form 994F, Schedule of Work in Process, through eXtensible Business Reporting Language (XBRL). It explains that under the current process Surety Partners must manually enter individual WIP information into CAFS, and that XBRL WIP reports give them the option to send batch transmissions.

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Full text

                               SBA Procedural Notice

TO: All SBA Employees and SBA Prior Approval                                        CONTROL NO.: 5000-834330
Surety Partners
SUBJECT: Option for Prior Approval Sureties to                                      EFFECTIVE: June 29, 2022
Submit the “Work in Process” Information
Required by SBA Form 994F through eXtensible
Business Reporting Language (XBRL)




The purpose of this Notice is to inform Prior Approval Surety Companies and their Surety
Agents participating in SBA’s Surety Bond Guarantee (SBG) Program (referred to collectively
hereafter as Surety Partners) and SBA employees that, effective immediately, Surety Partners
and small business concerns will have the option to submit the information required by SBA
Form 994F, “Schedule of Work in Process”, through eXtensible Business Reporting Language
(XBRL) (referred to as XBRL WIP reports). Under the current process, small business concerns
provide the “Work in Process” (WIP) information to Surety Partners, and then Surety Partners
must manually enter individual WIP information into CAFS. With XBRL WIP reports, Surety
Partners will have the option to send a batch transmittal of the WIP information to CAFS
electronically. SBA is issuing this Notice to provide Surety Partners with procedures to properly
submit XBRL WIP reports through the Capital Access Financial System (CAFS).

What is XBRL?
XBRL is an open technology standard that enables business and financial data electronic
communication. XBRL-formatted documents create computer-readable data and enable greater
efficiency, improved accuracy, reliability, and cost savings to those who supply and use financial
and business data.

The XBRL WIP report is an alternative to manual CAFS entry of SBA Form 994F information.
All the information contained in the XBRL WIP report is identical to the information contained
in the current SBA Form 994F; the only difference between the two forms is the formatting. The
XBRL WIP report functions as a computer-readable spreadsheet specifically designed to be
translated by CAFS. By using the XBRL WIP report, a Surety Partner will not need to manually
enter the information into CAFS.

How are XBRL WIP reports submitted?
To submit the required WIP information through XBRL, a Surety Partner will need to perform
the following sequence of steps:
PAGE 1 of 2                                                                                 EXPIRES: 6-1-23
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
   1. Visit XBRL’s conversion website located at https://sba.xbrl.us/

   2. Download the XBRL report template from the conversion website

   3. Complete the XBRL report template with subject account WIP data

   4. Save the subject account WIP report locally

   5. Upload the completed account WIP report to the conversion website and click the
      “Convert to XBRL” button

   6. Enter CAFS user credentials and click “Submit to SBA”

A Surety Partner must have an active user account with SBG Agent role access in CAFS to
complete an XBRL report submission.

Who do I contact if there are technical errors?
Surety Partners are encouraged to read the technical guide posted on https://sba.xbrl.us/ to learn
how to troubleshoot technical errors.

For assistance with logging into SBA’s CAFS system, please contact the CAFS Help Desk via
email at cls@sba.gov.



Jennifer Vigil

Acting Director

Office of Surety Guarantees




PAGE 2 of 2                                                                                EXPIRES:   6-1-23
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

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