On May 7, 2024, the Federal Trade Commission published a final rule (the “Rule”) that results in a federal ban on non-compete clauses nationwide, with limited exceptions. The…
What is the Beneficial Ownership Information (“BOI”) Reporting Rule? The Financial Crimes Enforcement Network (“FinCEN”) recently implemented significant changes in beneficial ownership reporting, for the purpose of combating…
SBA lenders must be careful to not only follow the updated guidance in SOP 50 57(3) for liquidation and guaranty purchase, but also for SBA loans in regular…
The cornerstone of SBA lending has always been and will continue to be reaching businesses that are, in fact, small. The way that small business is defined has shifted drastically…
Borrowers undertaking a U.S. Small Business Administration (“SBA”) 7(a) loan often ask lenders whether a new survey will be required to close. This is a complex question and often, the…
Effective August 31, 2022, SBA published Information Notice 5000-836123, concerning 7(a) Fees Effective October 1, 2022 for Fiscal Year 2023. This article will address items that have changed, specifically with regard…