Below is a list of SBA Loan Servicing Software FAQs sent to DISC. The answers explain how LOANLEDGER(sba) comprehensively helps manage and service SBA loans.


When is a lending institution required to file Form 1502?

Form 1502 is mandatory for all 7(a) loans with an outstanding SBA guaranty, regardless of payment activity on the note.

What constitutes a reporting period for a SBA 7(a) loan?

The reporting period on Form 1502 includes the first calendar day through the last calendar day of the previous month.

When must a lender notify SBA of changes to a guaranteed loan?

Lenders must notify SBA promptly of any cancelled or withdrawn loans.

What information is included on SBA Form 1502?

Form 1502 includes:

  • Secondary Market Payment
  • SBA Status Codes
  • Amounts Undisbursed
  • Guaranteed Payment Portions
  • Floating Interest Rates
  • Calendar Basis Points


What type of loan portfolio is best served by LOANLEDGER(sba)?

LOANLEDGER(sba) is an excellent solution for both unsold SBA loans and secondary market loans.

How will LOANLEDGER(sba) help my loan department?

We know that small business loans are not the only loans your loan department handles. LOANLEDGER(sba) dramatically reduces the time you spend calculating, often manually, the data necessary for Form 1502 right beside all the necessary and desirable functions for participations and secondary market. The software completes the necessary calculations for you, populates the form and allows for convenient upload with, literally, the touch of a button.

Will LOANLEDGER(sba) help balance my ledger?

Yes, the software does a complete audit of transactions in the loan cycle for pre-payment, late payment and pay-off.

What about a complete copy of the loan documentation for our files?

LOANLEDGER(sba) can store any document you save into the LOANLEDGER Database Files for that loan.

My department is incredibly busy; how can we track the SBA loan servicing process for efficiency?

LOANLEDGER(sba) integrated tickler system generates automated reminders for every SBA loan servicing requirement, taking the worry out of managing your portfolio.

What is the standard format for reports with LOANLEDGER(sba)?

LOANLEDGER(sba) will generate reports on screen or on paper and, importantly, in either PDF or Excel format. It’s simply amazing to watch it work so hard so quickly.

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Answering questions about SBA Loan Servicing Software

DISC Specialization

Since 1982, Dynamic Interface Systems Corporation has provided loan servicing software, debt collection software, mortgage servicing software and other sophisticated yet affordable products for lenders, mortgage providers and other financial institutions.

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Loan Servicing Software

A system that provides you with every loan management function crucial to your business.

Mortgage Servicing Software

Transform the highly complex process of servicing mortgage loans into a few easy key strokes.

Debt Collection Software

Manage key functions, automatically merging the debt collection process within your business.

Credit Bureau Reporting

Knowing the credit and repayment history of your clients and potential clients is critical.

ARMs Servicing

ARMs make home purchases more accessible but they increase loan servicing complications.

Escrow Analysis Software

Accurate tax and insurance accounting is vital for impound and escrow accounts.