The Small Business Administration (SBA) has launched its new 7(a) Working Capital Pilot (WCP) program, which will take effect on August 1, 2024. SBA published notice of the…
A crucial step of underwriting and closing an SBA loan is verification of the SBA applicant’s financial information and tax returns. SOP 50 10 7.1 sets forth specific…
In recent months, the SBA lending community has seen SBA’s lease requirements go through a series of changes, but we may end up close to where we started. …
As we approach August 1, 2023, the effective date of the new SOP 50 10 7, the SBA lending community continues to digest and analyze the changes from…
In change of ownership transactions, Sellers may agree to finance a portion of the purchase price through the use of a promissory note (“Seller Note”). Seller financing reduces the amount…
Failure to obtain the proper lien position on collateral is one of the most common reasons for a repair of the SBA guaranty, but the good news is lenders can…