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Financial Services Law Insights and Observations

Small Business Administration requires lenders to review loans in CAFS for accuracy and completeness

Federal Issues Covid-19 SBA Lending

Federal Issues

On May 14, the Small Business Administration announced that it had launched a new search functionality within the E-Tran Servicing section of the Capital Access Financial System (CAFS) to assist Paycheck Protection Program lenders with reviewing loans in their portfolios. Lenders are required to review all fields in these files for accuracy and completeness by no later than 5:00pm EDT on May 15, 2020. The SBA also provided updated instructions on how to access CAFS and update records in “Research” status.