Lenders and borrowers only have a few days left to take advantage of the subsidy loan payments provided by Section 1112 of the Coronavirus Aid, Relief, and Economic Security Act…
Best Practices: PPP Loans to Sole Proprietors, Independent Contractors and Self-Employed Individuals
Paycheck Protection Program (“PPP”) loans are available to sole proprietors, independent contractors and eligible self-employed individuals. In order to qualify for a PPP loan, a sole proprietor, independent contractor or…
When closing a commercial construction loan, a lender’s due diligence gathering typically does not end at the loan closing table. Once a construction loan closes, a lender must carefully follow…
In the SOP 50 10 5(K), the U.S. Small Business Administration (“SBA”) sets forth specific rules on refinancing same institution debt. If a lender is seeking to refinance its own…
SOP 50 10 5(K) addresses eligibility issues surrounding Small Business Applicants that are engaged in international business operations who apply for government guaranteed loans under the 7(a) loan program and…
The Small Business Administration ("SBA") is known throughout the United States as a champion of small business. In order to uphold the integrity of the program, the SBA requires that…