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…
When Lenders rely on a third party closing agent, such as a title agent or escrow agent, to assist with loan closing and disbursement on behalf of the Lender, it…
One common reason for SBA to issue a repair or denial of the SBA guaranty is a Lender’s failure to properly disburse an SBA loan in accordance with the use…
Effective September 8, 2021, SBA enhanced its COVID-19 Economic Injury Disaster Loan (EIDL) program to assist small businesses to meet their financial obligations and operating expenses despite the suffering created…
SOP 50 10 6 requires SBA Lenders to obtain and verify tax information on applicants, and on sellers in the case of a business acquisition, by obtaining tax transcripts and…
SBA Procedural Notice 5000-20093 (the Notice), effective February 12, 2021, focuses on establishing maturities of new 7(a) loans approved between February 1, 2021 and September 30, 2021 which may be…