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. …
Proceed with Caution: How Bad Tenants and Squatters can Impact a Real Estate Acquisition Transaction
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…
Recently my colleague, Norman E. Greenspan, wrote an article about the newly enhanced role of the Office of Credit Risk Management (“OCRM”) when it comes to evaluating lenders’ conduct in complying with the…
Most state statutes require that any lender who receives full payment of all sums due on a mortgage must satisfy said mortgage following a formal request from the borrower. Recently,…