SBA SOP 50 10 8, A.Ch5.D — HISTORIC PROPERTIES
Verbatim text of SBA SOP 50 10 8 section A.Ch5.D (HISTORIC PROPERTIES), effective 2025-06-01. 4 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 SBA's own document page serves superseded editions, and the SOP is further amended by policy notices — read this with the notices that touch it.
Verbatim regulatory text
Verbatim provisions from SBA SOP 50 10 8, A.Ch5.D — HISTORIC PROPERTIES — 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.Ch5.D
D. HISTORIC PROPERTIES Section 106 of the National Historic Preservation Act requires Federal agencies to consider whether their federally-funded projects directly or indirectly adversely impact properties and sites that are listed or eligible to be listed on the National Register of Historic Places (NRHP). (54 U.S.C. § 300101 et seq.; 36 CFR §§ 60.1 et seq. and 800.1 et seq.) An SBA Loan is considered to directly or indirectly impact such a property or site if the SBA Loan transaction involves the purchase or renovation of a property or site (including installation of equipment). As set forth below, SBA will conduct a Section 106 review to determine whether the impact is adverse. For all SBA Loan transactions involving the purchase or renovation of a property or site, all SBA Lenders must conduct due diligence to determine whether the SBA Loan transaction involves a property or site that is listed on the NRHP or has historic significance such that it may be eligible to be listed on the NRHP (either individually or as part of a historic district). The due diligence conducted must follow prudent lending practices and be documented in the SBA Loan file. 1. If the SBA Lender’s due diligence does not yield information indicating that the property or site is listed on the NRHP or has historic significance such that it may be eligible to be listed on the NRHP (either individually or as part of a historic district), the SBA Lender must document its file and does not need to request a Section 106 review by local SBA counsel. However, the SBA Lender may request a Section 106 review by local SBA counsel if it subsequently receives a screen out notice from the SBA loan processing center. 2. If the SBA Lender’s due diligence yields information indicating that the property or site is listed on the NRHP or has historic significance such that it may be eligible to be listed on the NRHP (either individually or as part of a historic district), the SBA Lender must take the following actions: For SBA Loan transactions involving property or site acquisition where the Borrower, Co-Borrower, and/or Operating Company has no intention of altering, renovating, rehabilitating, restoring, and/or demolishing any part of the property or site:
SOP 50 10 8 A.Ch5.D.i
i. Prior to submitting the SBA Loan application to the SBA loan processing center (non-delegated) or requesting an SBA Loan Number when processing the SBA Loan under delegated authority, the SBA Lender must obtain a Historic Property Borrower Certification executed by the Borrower, Co- Borrower, and/or Operating Company. This is a self-certification that no modifications will be made to the property or site during the term of the SBA Loan. This self-certification must be made on SBA Form 2481, Historic Property Borrower Certification. ii. The SBA Lender must provide a copy of the executed SBA Form 2481 to local SBA counsel for review and clearance. This clearance will become null and void and a Section 106 review will be required if, between the date the SBA Form 2481 is executed and the date the SBA Loan is disbursed, the Borrower, Co-Borrower, and/or Operating Company changes its intentions or it is determined the property or site requires any alteration, addition, renovation, rehabilitation, restoration, and/or demolition. iii. SBA Lenders processing the loan under their delegated authority must retain the executed SBA Form 2481 and clearance from local SBA counsel in the SBA Loan file. The executed SBA Form 2481 and clearance from local SBA counsel must be provided with any guaranty purchase request and may be reviewed by SBA when conducting lender oversight activities. iv. SBA Lenders processing the loan under non-delegated procedures must include the executed SBA Form 2481 and clearance from local SBA counsel with the application for review by the SBA loan processing center. For SBA Loan transactions where the Borrower, Co-Borrower, and/or Operating Company intends to alter, renovate, rehabilitate, restore, and/or demolish any part of the property or site (regardless of the source of the funds to finance these modifications), the SBA Lender must request a Section 106 review by local SBA counsel. i. In its request for a Section 106 review to local SBA counsel, the SBA Lender must provide: a) The names of the Borrower, Co-Borrower, and/or Operating Company; b) The SBA Loan Name; c) The results of its due diligence; d) A full and complete description of the planned modifications; and e) A statement regarding whether any of the planned modifications have commenced. If so, SBA Lender must instruct the Borrower, Co- Borrower, and/or Operating Company to stop work, otherwise the SBA Loan may not be approved and/or disbursed. f) If the Borrower, Co-Borrower, and/or Operating Company is under contract for the purchase of the property or site and the seller will not agree to extend the closing deadline to accommodate the Section 106 review process or other extenuating circumstances exist that would cause a hardship if the loan is not approved by SBA until after the completion of the Section 106 review process, the SBA Lender may identify these circumstances in the request. Depending upon the circumstances, SBA may exercise its discretion to issue the E-Tran Terms and Conditions with a Section 106 review condition consisting of the following or similar language: “Historic Property / Section 106 Review: Pursuant to section 106 of the National Historic Preservation Act and its implementing regulations, prior to the SBA Loan closing and the commencement of any renovations, modifications, or repairs to the Property, Borrower, Co-Borrower, and Operating Company (if applicable) must obtain a historic property review clearance from SBA.”
SOP 50 10 8 A.Ch5.D.i.ii
ii. Local SBA counsel will review the request and may request additional information from the SBA Lender to facilitate the review. a) If local SBA counsel determines during the review that the property or site is not listed on the NRHP and is not eligible to be listed on the NRHP because the property or site does not have any historic significance, local SBA counsel will provide a response to the SBA Lender indicating that a Section 106 review is not required. The response must be retained in the SBA Loan file and may be requested by the SBA loan processing center during application processing. b) If local SBA counsel determines during the review that the property or site is listed on the NRHP or may be eligible to be listed on the NRHP because the property or site has historic significance, and the modifications to the property or site have already commenced, local SBA counsel must perform a Section 110(k) review before proceeding with a Section 106 review under 54 U.S.C. § 306113 and 36 CFR. § 800.9(c). If the modifications to the property or site have not yet commenced, local SBA counsel is not required to perform a section 110(k) review and instead will proceed directly to the Section 106 review. c) If local SBA counsel determines during the review that the property or site is listed on the NRHP or may be eligible to be listed on the NRHP because the property or site has historic significance, local SBA counsel will perform a Section 106 review following the procedures set forth in 36 CFR § 800.4 et seq.
SOP 50 10 8 A.Ch5.D.i.ii.i
i) Among other things, the Section 106 review will involve evaluation of the property or site under the NRHP criteria (located at 36 CFR § 60.4) and consultation with the relevant State Historic Preservation Office (SHPO) regarding the historic significance of the property or site and whether the planned modifications will adversely affect the property or site, including any associated historic district. ii) Depending upon the nature of the review, consultation with additional parties (e.g., Native American Tribes, Native Hawaiian Organizations, local governments) may be required by 36 CFR § 800.4(d)(2). iii) Pursuant to 36 CFR § 800.4(d), the SHPO has thirty (30) days to provide a response to local SBA counsel. The SHPO’s response may consist of a statement of no objection or concurrence with SBA’s determination; an objection to SBA’s determination; or a request for additional information. iv) After receiving the SHPO’s response, local SBA counsel will consult with the Associate General Counsel for Financial Law and Lender Oversight or designee and advise the SBA Lender of the next steps in the review. d) If consultation with the SHPO results in a determination that the property or site does not satisfy the NRHP criteria, or that the property or site satisfies the NRHP criteria but there will not be an adverse effect, local SBA counsel will receive an approval from the Associate General Counsel for Litigation or designee indicating that the SBA Loan transaction may proceed and will issue a Section 106 review clearance to the SBA Lender. e) SBA Lenders processing the loan under their delegated authority must retain the clearance from local SBA counsel in the SBA Loan file. The clearance must be provided with any guaranty purchase request and may be reviewed by SBA when conducting lender oversight activities. f) SBA Lenders processing the loan under non-delegated procedures must include the clearance from local SBA counsel with the application for review by the SBA loan processing center. g) If consultation with the SHPO results in a determination that the property or site satisfies the NRHP criteria and there will be an adverse effect, SBA must further consult with SHPO and, depending upon the review, other parties to resolve the adverse effect. This may result in a Memorandum of Agreement between SBA and SHPO, and other parties as applicable, regarding the resolution of the adverse effect.
Operationalizing SBA SOP 50 10 8, A.Ch5.D — HISTORIC PROPERTIES
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