Notice of Sale of Commercial Loans

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This notice announces the Small Business Administration's (``SBA'') intention to sell approximately 4,000 secured and unsecured commercial loans (the ``Loans'') in a sealed bid auction. The total unpaid principal balance of the Loans to be sold in Loan Sale #1 is approximately $350 million (US). Some of the Loans were previously guaranteed by SBA under various sections of the Small Business Act, as amended, 15 U.S.C. 631 et seq., or the Small Business Investment Act, as amended, 15 U.S.C. 695 et seq. All SBA guarantees have been paid and no SBA guaranty is available to the successful bidders. In addition, the remainder of the Loans were directly originated and funded by SBA. The collateral for those Loans that are secured includes commercial and residential real estate and other business and personal property located nationwide. This notice also summarizes the bidding process for the Loans.