On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) was passed into law. This legislation provides various forms of government aid to small businesses…
One of the basic tenets of SBA lending is that an applicant must be an active operating business. SBA prohibits financing assets that are held for their passive income, with…
Because many SBA loans are under-collateralized, the SBA guaranty is often the most valuable piece of “collateral” to a lender. Because of this, it is imperative that lenders avoid the…
Lenders extending Small Business Administration (“SBA”) loans have now been operating under SOP 50 10 5 (J) since January 1, 2018. As most SBA lenders are aware, SOP 50 10…
Because SBA loans are often under-collateralized, the SBA guaranty is frequently the most valuable piece of “collateral” to a lender. Because of this, it is imperative that lenders avoid the…
The Small Business Administration (“SBA”) has released SOP 50 10 5 (J), which takes effect on January 1, 2018. The new SOP sets forth changes with respect to franchise agreements,…
