Before, during and after the commitment phase on any loan, your client will undoubtedly have numerous questions about the process, costs, and time-frame for closing the loan. One common question…
It has been decided that informal communications, such a instant message (“IM”), can modify a signed contract. A Florida Court, applying Delaware law, held that an IM effectively amended a…
When financing a government guaranteed loan through the Small Business Administration (“SBA”) 7(a) program, lenders must not only identify all collateral required by the SOP 50 10 but also obtain…