As discussed in last week’s article, on August 14, 2018, the Small Business Administration (“SBA”) released the new 7(a) Authorization Wizard for immediate download and use. Following are some non-state…
Section 4 on page 180 of SOP 50 10 5(J) confirms that SBA Express lenders have authority to make credit decisions for Express loans without prior SBA review. This authority…
The revitalization of historic buildings can benefit a local community by creating new jobs in that community. These projects, however, frequently have higher costs, greater design challenges, and weaker market…
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…