Has your institution prepared for the required changes in SBA 1502 reporting on your SBA 7(a) loan portfolio?
Did you know the WBD Service Company can assist you with the transition?
There are several 1502 Reporting resources available to you at this SBA website:
Once there, scroll to the SBA Form 1502 Reporting, which includes various helpful information, including:
- 2025 Calendar of Due Dates
- The modernized 1502 Process – with 5 brief training videos and other helpful resources
- Lenders headquartered in Region 5 (WI, MN, MI, IL, IN & OH) - lenders required to convert by May 2025
- The SBA will provide formalized training for lenders in April 2025
- All lenders can convert early (the process has been live since December 2024)
If you are interested in converting prior to the formal training provided by the SBA coming up in April/May 2025, please contact LenderServices@wbd.org.
