A successful SBA lender will insure that its employees who deal with SBA loans, whether daily or just occasionally, are well trained in SBA requirements, processes, and procedures. Knowing where…
The SBA’s credit elsewhere test underpins the 7(a) loan program. Accordingly, failure to comply with the SBA’s credit elsewhere requirements may subject a lender to a denial of the SBA…
One of the most important conditions in properly closing an SBA loan is making sure that the use of loan proceeds complies with the SBA Loan Authorization. It is the…
Under the Change of Ownership section of SOP 50 10 5(I), when the purchase price of a business includes intangible assets in excess of $500,000.00, the borrower and/or seller must…
According to 13 CFR §103.1(d)), a Lender Service Provider is “an Agent who carries out lender functions in originating, disbursing, servicing, or liquidating a specific SBA business loan or loan…
Under Subpart B, Chapter 4, Section II of SOP 50 10 5(H), a lender must use commercially reasonable and prudent practices and procedures to identify property which may be collateral…