Using outside counsel to assist with loan closings may or may not be standard practice for SBA Lenders depending on a variety of factors such as: where a Lender is…
SBA lenders know that having a complete and compliant closing file is key to preserving the SBA Guaranty. When a transaction deadline is looming, or in the case of an…
Recently SBA has issued two procedural notices related to PPP and certain 7(a) loans approved under the CARES Act, as amended by Section 325 of the Economic Aid Act, and…
When SBA lenders encounter an applicant that is a trust or is owned by a trust, knowledge of SBA’s trust requirements is essential. Understanding SBA guidance not only helps lenders…
On February 10, 2021 SBA issued Procedural Notice 5000-20092 regarding Revised SBA Paycheck Protection Platform Procedures for Addressing Hold Codes on First Draw PPP Loans and Compliance Check Error Messages…
Under the CARES Act, SBA has the authority to conduct a review of any loan originated under the Paycheck Protection Program (“PPP”) at its discretion at any time. SBA may…