The Economic Aid to Hard Hit Small Businesses, Nonprofits and Venues Act (the Economic Aid Act) contained provisions for SBA to cover up to six months of loan payments for…
At the end of October, lenders who had submitted PPP loan forgiveness applications for a company that, together with its affiliates, received $2,000,000 or more in PPP financing began receiving…
While a credit memorandum may primarily be a way for lenders to memorialize their own underwriting of a loan, it is important to keep in mind that this document is…
The last few days before a closing can be a hectic time. Each party has its own responsibilities and everyone must make sure that there is an agreement as to…
The SBA program is deeply rooted in the idea in providing support only to “applicants for whom the desired credit is not otherwise available on reasonable terms from non-Federal sources.”…
For SBA lenders, proving equity injection is a critical part of the due diligence process since failure to properly do so can result in a denial of the guaranty on…