Last updated: January 14, 2026
Section 1071 requires tracking 81+ data points across applications, businesses, and principal owners—far more complex than HMDA. Comply SBL automates small business lending data collection, owner demographic tracking, NAICS coding, and CFPB submission file generation, ensuring you meet all phases of Section 1071 requirements without manual spreadsheet tracking.
Whether you're a Tier 1 institution already reporting or preparing for the phased implementation timeline, Comply SBL provides the same robust architecture that has helped hundreds of financial institutions successfully submit HMDA data for over 39 years. Built on Microsoft .NET and SQL Server, the software handles complex multi-owner demographics, validates against evolving CFPB edit checks, and generates submission-ready files that meet regulatory specifications.
Efficiently import small business lending data from your origination systems with our intuitive Import Wizard. The software supports multiple file formats including fixed-length and delimited files, with flexible field mapping capabilities. Set up custom data conversions during import to ensure your data meets CFPB requirements from the start.
Our import process includes validation checks that identify potential issues before data enters your system, saving you time and reducing errors during the edit check phase.
Comply SBL (1071) includes all CFPB-mandated edit checks for Section 1071 reporting. Run validity edits to catch errors that must be corrected before submission, and quality edits to identify data that may need review.
The system automatically updates as the CFPB refines edit check specifications, ensuring you're always working with the latest regulatory requirements. Mark quality edits as verified to streamline your review process across multiple reporting cycles.
Manage complex small business lending applications with ease. The software handles multiple owners per application, tracking demographic information, ownership percentages, and all required data points mandated by Section 1071.
View and edit data in either Application View (comprehensive single-record display) or List View (spreadsheet-style for batch editing). Create custom views to focus on specific data elements relevant to your workflow.
RATA's compliance-grade geocoding services are built directly into Comply SBL. Batch geocode your entire dataset or geocode individual applications as needed. Our geocoding servers process addresses instantly, providing accurate census tract assignments required for SBL 1071 reporting.
The system automatically identifies records requiring geocoding and handles re-geocoding when addresses are updated, ensuring your geographic data stays current.
Create sophisticated filters to segment your SBL data by any combination of application characteristics, demographic factors, or geographic criteria. Save filter definitions for reuse across reporting periods.
Generate standard regulatory reports and custom analysis reports. Export data for external analysis or create submission files directly from the software when submission dates arrive.
When submission deadlines approach, the Submission Wizard guides you through creating CFPB-compliant submission files. The system validates that your data is edit-free and fully geocoded before generating the submission file in the exact format required by the CFPB.
Pre-submission checks ensure you won't encounter surprises when uploading to the government portal, giving you confidence in your submission quality.
Comply SBL (1071) leverages RATA's decades of experience building compliance software for HMDA, CRA, and fair lending. The architecture, user interface, and workflow patterns are based on our battle-tested Comply platform used by hundreds of financial institutions.
As the CFPB refines Section 1071 requirements and edit check specifications, we automatically update the software. Your institution benefits from our ongoing monitoring of regulatory changes without manual intervention.
RATA's compliance experts are available to help you navigate Section 1071 requirements. We understand both the technical and regulatory aspects of small business lending data reporting, providing comprehensive support throughout your implementation and reporting cycles.
Whether you originate dozens or thousands of small business loans annually, Comply SBL (1071) scales to meet your institution's needs. The centralized SQL Server database architecture supports multiple concurrent users and large datasets efficiently.
Section 1071 of the Dodd-Frank Act requires financial institutions to collect and report data on small business loan applications. This includes information about the business (revenue, NAICS code, employee count), ownership demographics (race, ethnicity, sex of principal owners), loan terms, and credit decisions. The CFPB uses this data to enforce fair lending laws and promote small business credit access.
Section 1071 implementation is phased by institution size. Large institutions (≥$10B assets) began collecting data in 2024 with first filing due March 2025. Medium institutions ($850M-$10B assets) begin in 2025, filing in March 2026. Small institutions (<$850M) start in 2026, filing in March 2027. Check your asset tier to determine your specific timeline.
Required data includes application date, loan amount, loan type, loan purpose, credit decision, pricing, denial reasons (if applicable), business NAICS code, gross annual revenue, time in business, number of employees, census tract (via geocoding), and demographic information for up to 4 principal owners (race, ethnicity, sex). Comply SBL manages all required fields with built-in validation.
Yes, Section 1071 requires census tract geocoding for each covered application. Comply SBL includes integrated Compliance-grade™ geocoding with 95%+ accuracy. Batch geocode your entire dataset or geocode individual applications instantly. Our geocoding service uses Census Bureau TIGER data and handles address standardization, matching, and census tract assignment automatically.
See how Comply simplifies Section 1071 compliance
| Compliance Task | With Comply SBL | Manual Process |
|---|---|---|
| Data Collection | Structured application-level data entry with validation rules. Tracks all 81+ required data points including business demographics, principal owner information, and loan characteristics. | Spreadsheet tracking prone to errors. Missing data fields discovered late. Difficult to ensure data completeness across 81+ required elements. |
| Owner Demographics | Systematic collection of principal owner race, ethnicity, sex, and veteran status. Automated calculation of minority-owned, women-owned, and LGBTQI+-owned business status based on ownership percentages. | Manual tracking of ownership percentages. Complex calculations for majority ownership determination. High risk of classification errors. |
| Geocoding | Integrated Compliance-grade™ geocoding with 95%+ accuracy. Batch processing for entire dataset with Census Bureau TIGER data. | Manual census tract lookup for each business address. Time-consuming, error-prone. May not meet CFPB accuracy standards. |
| NAICS Code Assignment | Built-in NAICS code lookup and validation. Ensures 6-digit codes match Census Bureau classifications. | Manual NAICS code research. Difficult to stay current with code changes. Classification errors common. |
| Phase Compliance Tracking | Automatically tracks which phase requirements apply based on your institution's lending volume. Ensures data collection matches CFPB timeline. | Manual tracking of three-phase implementation requirements. Risk of collecting insufficient or excessive data. |
| Validation Rules | Built-in CFPB validation edits. Identifies missing data, invalid codes, and logical inconsistencies before submission. | Errors discovered after CFPB submission rejects file. Resubmission delays, potential compliance violations. |
| Submission File Generation | One-click creation of CFPB submission file in required format. Pre-validated, submission-ready output. | Manual file formatting to CFPB specifications. Format errors lead to submission failures. |
| Time to Prepare Submission | Days from data collection to CFPB-ready file | Weeks or months of manual preparation |
Trusted by financial institutions nationwide for compliance excellence
Scott Shie
River Funding Corporation
"The folks at RATA were outstanding. Every time I had a question, I would speak to someone who either knew the answer immediately or could provide the answer within a very short period of time. Everyone I spoke with knew their product, industry and was willing to do whatever it took to help us solve our problem. I would highly recommend RATA and COMPLY to anyone who is considering this company and product."
December 10, 2016
Mark Mitchell
Panhandle State Bank
"The support has been exceptional. The program is very easy to use. RATA has been one of the best companies I have dealt with in my 25 years of banking. Their service has exceeded my expectations."
August 23, 2016
Paul D'Agostino
TruHome Solutions
"I wanted to let you know that RATA and Comply is the absolute best!!! My submission is complete and was accomplished in record time. I more than doubled the amount of activity I reported last year and it took me less than half the time. Thank you for being there for us and the industry! You are and always will be number one to me!!!"
May 20, 2015
Discover how Comply SBL (1071) keeps you compliant with evolving SBL regulations and simplifies small business lending data reporting.
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