Driven by technological advancements and societal trends towards self-care and holistic well-being, the medical spa industry has been experiencing significant growth. For lenders offering financing to aid these…
Since the SBA 7a program is designed to expand access to capital for small businesses who cannot obtain credit elsewhere, lenders must ensure that all diligence items have…
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…
