SBA SOP 50 10 8, A.Ch1.I — CUSTOMER IDENTIFICATION PROGRAMS

sba-sop-a-ch1-i

Verbatim text of SBA SOP 50 10 8 section A.Ch1.I (CUSTOMER IDENTIFICATION PROGRAMS), effective 2025-06-01. 1 provision(s) quoted from the SOP PDF. SBA's own document page serves superseded editions, and the SOP is further amended by policy notices — read this with the notices that touch it.

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Verbatim regulatory text (1)

Verbatim provisions from SBA SOP 50 10 8, A.Ch1.I — CUSTOMER IDENTIFICATION PROGRAMS — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

SOP 50 10 8 A.Ch1.I

Effective 2025-06-01 · publisher's stamp for this provision

I. CUSTOMER IDENTIFICATION PROGRAMS 1. SBA requires all participating SBA Lenders, including SBLCs, to comply with the U.S. Department of the Treasury regulations for Customer Identification Programs (CIP) for banks, savings associations, credit unions, and certain non-federally-regulated banks found at 31 CFR § 1020.220. 2. For 504 loans: SBA does not expect CDCs to duplicate the procedures of the Third Party Lender if the Third Party Lender is regulated by a Federal functional regulator (as defined in 31 CFR § 1010.100(r)) and submits annual certifications to the CDC that it (the Third Party Lender or its agent) will comply with the CIP requirements of 31 CFR § 1020.220 with respect to all third party financings of 504 loans. Under these circumstances, it is acceptable to SBA if a CDC’s CIP states that the CDC will rely on the Third Party Lender to verify the identity of the SBA Applicant. The CDC has the option of performing its own verification of the identity of the SBA Applicant even if a Third Party Lender has already complied with 31 CFR § 1020.220. If the Third Party Lender has not submitted the requisite annual certification to the CDC, the CDC must perform its own verification of identity. Section A, Ch. 2 Special Transaction Structures CHAPTER 2: SPECIAL TRANSACTION STRUCTURES

Source: SBA SOP 50 10 8, A.Ch1.I — CUSTOMER IDENTIFICATION PROGRAMS · source URL · snapshot 535743ffe062cc34

Operationalizing SBA SOP 50 10 8, A.Ch1.I — CUSTOMER IDENTIFICATION PROGRAMS

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Source of record: https://claudeforcompliance.com/regs/sba-sop-a-ch1-i/ · register sba-sop-a-ch1-i · Claude for Compliance. Free to read and download; see regulatory updates and methodology.