Generally, an SBA lender will need to secure its loan with a perfected security interest in specific equipment purchased, or to be purchased, with loan proceeds.  Lenders must take special…

SBA’s Office of Inspector General (SBA-OIG) advises that financial institutions (FI) continue to serve an important role in uncovering and identifying thousands of fraudulent PPP (Paycheck Protection Program) loans and…

A startup company may elect to file its preliminary corporate documents, such as the articles of organization (limited liability company) or incorporation (C-corporation), in a state other than the one…

Because SBA was ordered to disclose the identities of millions of business owners who took Paycheck Protection Program (“PPP”) loans during the pandemic (after having previously disclosed loan data concerning…

As discussed in last week’s article, many uncertainties exist when the owners of a business who received a Paycheck Protection Program (“PPP”) loan wish to transfer their business to a…

When an Original Borrower has received a Paycheck Protection Program (“PPP”) Loan and, prior to loan forgiveness, wishes to transfer ownership to a new purchaser, lenders often find themselves uncertain…