SBA’s Vendor/Technology Selection Requirements for Lenders Utilizing Electronic Signatures
A growing number of SBA lenders are utilizing electronic signatures on their SBA forms and documents, including loan documents, which require a signature. SBA lenders must be mindful of the strict requirements placed by the SBA on the technology utilized to obtain electronic signatures. SBA lenders who fail to adhere to the standards prescribed by ... Read More
Best Practices: SBA Requirements for Historic Registry Properties
Section 106 of the National Historic Preservation Act requires Federal agencies to consider whether their federally-funded projects directly or indirectly adversely impact properties and sites that are listed or eligible to be listed on the National Register of Historic Places (“NRHP”) (54 U.S.C. § 300101 et seq.; 36 CFR §§ 60.1 et seq. and 800.1 ... Read More
Best Practices: Common Insurance Errors and Their Impact on the SBA Guaranty
Insurance requirements are different for every loan and are based on the type of collateral being taken, the type of business that is borrowing funds and the project for which such funds are being utilized. Two types of business insurance are required for almost every loan: hazard insurance and liability insurance. Lenders must follow SBA ... Read More
Best Practices: The Burden of Proving Your Guaranty Purchase Case
In the American criminal justice system, defendants are afforded a presumption of innocence which is derived from the fifth and fourteenth amendments to the Constitution. This standard, which has been enshrined through countless police procedurals and courtroom dramas, has become, in the minds of many people, the commonplace standard of proof in dealings with the ... Read More