Good “Accounting” News for SBA Lenders
March 01, 2011
by
In June 2009, the Financial Accounting Standards Board (FASB)
issued Financial Accounting Standard No. 166, Accounting for
Transfers of Financial Assets (now referred to as Accounting
Standards Codification Subtopic 860-10), which was effective for
most entities beginning January 1, 2010. Among other changes, this
standard limited the situations when a “sale” of the guaranteed
portion of a Small Business Administration (SBA) loan (“SBA loan
sales”) to a third party could qualify as a sale for accounting
purposes.
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