The second round of Payment Protection Program (PPP) funding has just been released. During this next round of relief funding, eOriginal will continue to enable SBA lenders to meet and maintain the highest level of legal enforceability and compliance for SBA digital loans.  

The SBA SOP Appendix 8 regulations mandate the following to be in full compliance:

  • Compliance with ESIGN, UETA and UCC 9-105
  • Compliance with all Safe Harbor provisions
  • Compliance with the SBA's Five eSignature requirements

Two technology solutions are required to fully meet "create, store, and assign" requirements:

  1. eSignature solutions meet "create" requirement for digital loans
  2. eVault solutions are needed to meet "store and assign" requirements
    • Note: Your current digital storage or ECM solution may not meet these strict requirements. Ask your current solution provider if they will rep and warranty that they meet UCC 9-105 provisions. If they are unable to, you may be out of compliance.

Failure to comply with SBA mandated requirements puts your SBA loan guarantee at risk

While fully understanding the digital loan laws and SBA compliance requirements may be complex, implementing them doesn't need to be.

eOriginal makes SBA Digital Loan Compliance Simple. We’ve helped SBA lenders in the first round of PPP funding to be up and running quickly to fully meet SBA compliance standards and ensure your SBA loan guarantee.

Click here here for the press announcement, or schedule a meeting with us. We would like to talk to you.

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