One of the most drastic (and possibly most appreciated) changes to the SOP 50 10 7.1 was the addition of the ability to finance partial changes of ownership.…
A tenant improvement allowance may be negotiated between the borrower and the landlord where the landlord agrees to provide funds towards the leasehold improvements. These allowances benefit the…
It has been a longstanding rule that a lender cannot sell a loan on the secondary market if it is not fully disbursed. However, changes in the most…
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…