Once a loan is purchased off the secondary market by SBA, lenders must proceed with liquidation before they can request a loan to be charged off. When liquidation…
Under the SOP 50 57 3, SBA has added a new provision that alters the perspective under which SBA will review a lender’s actions. This revised language states:…
“Prudence is a presumption of the future, contracted from the experience of time past.” – Thomas Hobbes SOP 50 10 7 didn’t introduce the concept of SBA requirements being rooted…
Insurance requirements are different for every loan and are based on the type of collateral being taken, the type of business that is borrowing funds and the project for which…
SBA lenders often include financial reporting provisions in their loan documentation, but may not realize the significance of this type of monitoring and the potential impact it can have on…
On March 3, 2022, through its PPP Lender Platform, SBA provided informal guidance to lenders on several issues, including whether lenders “should” consider offset as a remedy for borrowers who…