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Lately the question of affiliation and who has to personally guaranty an SBA Loan has become more gray.  Affiliation has always been more subjective t...

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Impending Government Shutdown

December 19, 2018


Radar was recently on a call with the Sustaining Members of NAGGL who provided an update to the looming shutdown. Based on recent events in the news and feedback from their contacts, NAGGL is predicting a shutdown after the current extension expires on the 21st of this month. During this shutdown no loan approvals or changes will be approved.


How will this impact borrowers and lenders?  The immediate impact will be felt on loans about to close that experience a material change to the approval.  The SBA will not be open to review and decision amendments to the Authorization.  This means loan closings will be on hold until the SBA returns to work and proper approvals can be obtained. 


Additionally, all new loan submissions will be held in queue until the SBA returns to work.  At that time all new loan submissions will be reviewed in the order received.  On the positive side, the shutdown is occurring in late December which is historically slow for new loan applications. Should the shutdown be short in length, this should not cause much of a delay in loan approvals once the government returns to work.  Since 1977 there have been 17 shutdowns – the longest lasting 21 days and only 7 which have lasted for more than 5 days.  A short closure should not impact approval times significantly.  A longer closure can cause delays for months, so let’s all hope we get back to business as usual quickly!


Ray Chiamulera 

Founder and President, Radar Lender Services

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