Guidehouse LLP, the SBA’s fiscal transfer agent (FTA), only accepts electronic documents.

Our registered holder name for page 2 of the 1086 and the signature page is BCM High Income Fund, LP.

Payment terms

If the interest rate adjusts on a quarterly basis, the note must state that the interest rate will be adjusted every calendar quarter (the “change period”). The “Prime Rate” is the prime rate in effect on the first business day of the month, as published in the Wall Street Journal.

Legend

The following must be printed on the original note, signed and dated by an authorized officer of the bank:

“The guaranteed portion of the outstanding principal balance of this note has been transferred to a Registered Holder for value.”

Certification

The following must be printed on the copy of the original note:

“We certify this document to be a true and correct copy of the Original Note.”

This certification must also be signed and dated, preferably in blue ink. An original signature is required; photocopies are not accepted.

This is required if the term of the loan is longer than 25 years or the SBA Form 529B has been changed.

Documentation from the SBA approving any changes in the SBA Form 529B that affect repayment terms (the Note) must accompany this form.

What’s next

4

Funds will be settled by wire transfer on the date agreed upon by BCG and the lender.

As of 11/01/14, the secondary market requires us to obtain written verification from the USDA that the loan carries a valid guarantee prior to settling the transaction. We will obtain the verification directly from the USDA after the lender has made delivery of the loan documents.

These documents must be included in all transaction packages:

This form must be the original typed published document. Copies will not be accepted.

All signatures on Page 3 must be original. Facsimile signatures are not accepted.

Whiteouts, mark-outs, and cross-throughs are not permitted except where necessary for compliance with year 2005 date requirements.

Type the loan identification number exactly as it appears on the loan guarantee.

On both USDA forms, the original signatures of the lender and holder must be attested by an authorized officer and the corporate seal affixed over the respective signature.

Assign the loan as follows:

TMICO c/o TMI Trust Company
115 S 84th St, Ste 325, Milwaukee, WI 53214
Attn: SBA Dept
Tax ID# 75-2707772

This form must be a copy. Any modifications to the original note must accompany the note, and agency approval is required for any changes dated after the date of the note.

The agency provides this form after the loan is guaranteed. The form must be a copy executed by the RD.

This is required if a prepayment penalty clause is incorporated in the loan agreement or note. The letter should state the lender’s intent to pass through to the holder a pro-rata share of any prepayment collected from the borrower. One original letter should be included for each transaction.

If the seller is not the original lender, four transfer documents must be properly executed, assigning the loan from seller to purchaser. If the loan is already in the secondary market, include all transfer documents representing the chain of ownership from original holder to the current purchaser.
The transfer document must have no whiteouts, mark-outs, cross-throughs or other corrections. All signatures must be original.