Effective March 9, 2022, SBA set forth revised procedures for SBA lenders and Certified Development Companies (CDCs) concerning the verification of financial information for the small business applicant. See SBA…
In order to properly document and close an SBA 7(a) loan, lenders must exercise care to ensure that loan proceeds are disbursed in strict accordance with the lender’s credit memo,…
After more than a year into the COVID-19 pandemic, demand for small business financing through SBA lending programs remains strong. SBA lending partners have approved a substantial number of loans…
SBA released Information Notice 5000-20084 on January 27, 2021. In accordance with the Economic Aid Act, the Notice provides for temporary changes to SBA loan programs, including higher guaranty percentages…
Over the past several months, with no formal guidance in place, SBA lenders have been operating on an ad hoc basis when financing change of ownership transactions where a PPP…
While most small business borrowers impacted by the COVID-19 pandemic have been solely focused on financial assistance from lenders participating in the Paycheck Protection Program, established under the Coronavirus Aid,…