https://starfieldsmith.com/wp-content/uploads/2026/07/ad2e1162-f84e-423e-8048-b1ae2bad4151.mp3 Per SBA Information Notice 5000-866746 effective April 21, 2025, SBA set forth the process for reinstituting the SBA Franchise Directory (“Directory”) and the steps franchisors must take to remain as an eligible brand on the Directory. In order to be listed on the Directory as of July 1, 2026, the franchisor must have signed ... Read More

https://starfieldsmith.com/wp-content/uploads/2026/07/d0a145c0-2ecc-4513-b960-49814d362a36.mp3 Referral Agents can be a valuable resource for Lenders looking to identify qualified small business applicants for SBA financing (each an “Applicant”). However, the rules governing a Referral Agent’s involvement in the SBA loan program impose obligations on both the Lender and the Referral Agent. This overview is designed to help Lenders build Referral ... Read More

https://starfieldsmith.com/wp-content/uploads/2026/07/9afa7132-09c2-4130-b1a5-7e884869c41f.mp3 Trusts are a regular feature in SBA loan structures, particularly where ownership, real estate, or estate planning considerations intersect. For lenders, that means trust documentation should never be treated as a secondary closing item. It raises core issues of eligibility, guaranty, authority, and collateral that must be addressed carefully under SOP 50 10 8, ... Read More

https://starfieldsmith.com/wp-content/uploads/2026/06/7de70ef8-6e2c-4deb-9d61-412acdaa9387.mp3 No matter where you drive today, you are likely to see a cell tower rising above the landscape, sometimes disguised to resemble the surrounding trees. Cell towers have become a necessity of modern life, and their numbers continue to increase. As a result, it is increasingly common for real property collateral to include a ... Read More

https://starfieldsmith.com/wp-content/uploads/2026/06/ea301e3a-0b1d-40c8-adc1-9ebecf7c4603.mp3 Adhering to the prudent lender guidelines, SBA lenders frequently obtain business valuations and real estate appraisals during loan origination, servicing, workout, and liquidation activities. While these reports are usually prepared for the lender’s underwriting and credit administration purposes, obligors often request copies of the reports and may later seek to rely upon them in ... Read More

https://starfieldsmith.com/wp-content/uploads/2026/06/8d9528c0-8b39-40cc-accc-2468b4551ad3.mp3 One of the benchmarks of the SBA loan program is that SBA loans are made to operating small businesses and not passive entities. If a small business enters into a Management Agreement with a third party to assist with running its business, it presents a grey area for Lenders as to whether the business ... Read More