Articles

https://starfieldsmith.com/wp-content/uploads/2025/03/0fd96286-abdd-4337-a9ae-b92f9e58df31.mp3 Every shift in administration brings changes to government programs, and the U.S. Small Business Administration (SBA) is no exception. This latest transition is no different, with several important announcements made just this past week regarding upcoming changes to the SBA and its 7(a) loan program, as well as broader adjustments to SBA operations. On ... Read More

https://starfieldsmith.com/wp-content/uploads/2025/03/35395995-1e7e-4873-979d-d189bf1f6739-1.mp3 On March 7, 2025, SBA issued Policy Notice 5000-865754 (the “Policy Notice”), Policy Updates to Comply with Executive Order 14159 Regarding Citizenship Requirements for Obtaining 7(a) and 504 Loans, effective as of the date it was issued.  The Policy Notice, which amends SOP 50 10 7.1, significantly changes eligibility requirements for businesses owned by ... Read More

Kelly Loeffler, newly confirmed as the 28th Administrator of the U.S. Small Business Administration (SBA), outlined her priorities in a Day One memo. She emphasized rebuilding the agency into a driver of free enterprise by reducing bureaucracy, increasing accountability, and promoting economic growth under President Trump’s “America First” agenda. Loeffler aims to streamline SBA operations, ... Read More

https://starfieldsmith.com/wp-content/uploads/2025/03/8d80abb5-3e6e-4f14-b879-8ea5aa1fbf28.mp3 An important and beneficial aspect of the SBA 7(a) Loan program is the lender’s ability to sell the guaranteed portion of an SBA Loan.  There is an active secondary market for loans backed by the federal government.  This allows lenders to increase their liquidity while also enabling lenders to issue more loans at the ... Read More

https://starfieldsmith.com/wp-content/uploads/2025/02/aff86f63-24ba-435f-a41e-0bcd545787af.mp3 When financing the purchase or construction of commercial real estate, SBA Lenders should confirm that the subject property’s zoning classification allows for the Borrower’s proposed use of the property. If the municipality determines that the Borrower’s property is not zoned properly after the loan closes, the Borrower may face fines, legal battles, or potential ... Read More

https://starfieldsmith.com/wp-content/uploads/2025/02/fd9ceebf-d9d0-4534-a771-a22eaa89c809.mp3 With the large volume of recorded lien (and associated) documents required to secure SBA loans, it is not uncommon for an instrument recorded in the public records to contain an error.  The most common errors include: (i) an error within a legal description attached to a recorded document; and (ii) a typographical error which ... Read More