Prior to the closing of an SBA loan, it is critical that lenders obtain appropriate documentation that the borrowing entity is in good standing. The best evidence to confirm active…

When financing an acquisition of real estate, the closing process will vary based on whether the transaction is consummated by way of a “table” closing or an “escrow” closing. Both…

The Paycheck Protection Program (“PPP”) was created to help small businesses impacted by the COVID-19 outbreak to be able to retain and pay their employees, and maintain their business operation. …

Under the SOP 50 10 5 (K), SBA loan proceeds may be used to finance the purchase of real estate as part of an eligible project such as ground-up construction…

When it comes to SBA lending, all participating lenders are no strangers to loan documents that include confession of judgment provisions (“COJ Provisions”). By way of background, COJ Provisions are…

The recently revised Standard Operating Procedure 50 10 5(K) (“SOP”) defines the Lender Service Provider (“LSP”) Agreement as “a written contract between a Lender and an Agent who assists the…