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…
According to Chapter 5, Section V of SOP 50 10 5(H), when substantial loan proceeds from a U.S. Small Business Administration guaranteed loan are to be used for leasehold improvements…