https://starfieldsmith.com/wp-content/uploads/2026/05/7ae44a8e-796a-46d9-8d7f-5268e1d61b39.mp3 Following its “do what you do” policy era, the U.S. Small Business Administration (SBA) has issued various procedural notices, underwriting updates, and eligibility revisions in the past few months, re-establishing certain prudent lending standards and revising applicant eligibility for SBA loan programs.  As lenders, borrowers, and other key partners adjust to the recent changes, ... Read More

https://starfieldsmith.com/wp-content/uploads/2026/05/43c68f28-3099-48e3-b0c9-3e66a5f6ff1d.mp3 Obtaining a U.S. Small Business Administration (SBA) loan is one of the most consequential financial decisions a business owner will make. Whether acquiring a business, purchasing commercial real estate, undertaking a construction project, or securing working capital, SBA guaranteed loans involve complex documentation, strict regulatory requirements, and significant long-term obligations. Yet many borrowers try ... Read More

https://starfieldsmith.com/wp-content/uploads/2026/05/973c961a-9b14-4468-b399-e5679f6c7187.mp3 The updated SOP 50 10 8 (“SOP”) has replaced the long-standing “do what you do” flexibility with stricter underwriting expectations, making insurance a more critical component of the lender’s credit decision. Under the standard of prudent lending, banks are expected to evaluate whether the insurance policy aligns with industry standards based on the property ... Read More

https://starfieldsmith.com/wp-content/uploads/2026/04/b388a3c5-ef59-475d-bfd2-791a5234fcc9.mp3 The SBA’s International Trade Loan (“ITL”) program has recently undergone a meaningful transformation intended to expand opportunities for access to capital. Previously a niche, export-focused product, ITL is now a broader financing tool for domestic growth, reshoring, and businesses facing global competitive pressure. And with a 90% guaranty, ITL is a very attractive program ... Read More

https://starfieldsmith.com/wp-content/uploads/2026/04/ec371774-e023-4d77-a7e4-c72398dedce6.mp3 Following a loan default, lenders must act swiftly and properly document their files. Often lenders respond with a formal letter addressing a specific demand, whether that be for missing documentation, a past due payment or the full loan balance. The path forward is relatively clear when the borrower either fully cures or fails to ... Read More

https://starfieldsmith.com/wp-content/uploads/2026/04/baf1d62d-fefc-4b1d-a386-fc034058eb6e.mp3 With the issuance of SOP 50 10 8 and subsequent notices on citizenship, Lenders are increasingly evaluating complete divestiture by an owner of an Applicant.  Under the current citizenship rules, the Applicant is ineligible if any Associate (as defined in 13 CFR § 120.10 and SOP 50 10 8 at p. 403) is an ... Read More