Following a default, lenders must perform a timely site visit in order to inspect collateral, determine its recoverable value and develop a liquidation strategy. SBA requires the site…
Last week in our article, Best Practices: The Affiliation Rule Change, we discussed how lenders are no longer required to review matters of control when performing an affiliation…
The financial markets over the past year and half have been nothing short of volatile. Throughout 2022 and continuing into the first quarter of 2023, the Federal Reserve has been…
On November 7, 2022 (Volume 87, No. 66963), the Federal Register contained a Notice of Proposed Rulemaking whereby the Small Business Administration (“SBA”) proposed to remove the requirement for an…
On SBA 7(a) loans, it is common for sellers of small businesses to offer the buyer a promissory note to pay some of the purchase price for the business. Seller…
In response to COVID-19, the Small Business Administration (“SBA”) was given the authority to make low-interest fixed-rate long-term COVID-19 Economic Injury Disaster Loans (“EIDL”) to help small businesses and other…