WASHINGTON -- In an effort to make it easier for lenders to work with, the Small Business Administration today released its modernized Standard Operating Procedure for lender and development company loan programs.

The revised document, SOP 50 10, has been cut in length from 1,000 pages to 400 and is more logically organized, the agency said. The SOP has been updated to be an electronic document using Internet hyperlinks to take the user to the most recent editions of relevant regulations and forms.

SOP 50 10 will be available in PDF format at the SBA Web site (www.sba.org) and can be easily updated, according to SBA. A version of the SOP with enhanced search capabilities will be released as soon as possible. Additional technical improvements are in the process such as an improved search engine, the agency said.

Although there were substantial structural changes made to the SOP, SBA made only limited policy changes or clarifications in the document. SBA said it will work with lenders and their representatives to incorporate further policy improvements in future iterations of SOP 50 10.

The new SOP is divided in three sections: Lender and Certified Development Company Participation criteria, 7(a) Business Loan Program and 504 Certified Development Company Loan Program.