SOP 50 10 7.1 has modified requirements on ESOP lending and made it easier for lenders to provide financing to ESOPs and/or financing resulting in the ESOP purchasing…
With rising interest rates, many lenders are experiencing a rise in defaults and liquidations. Sometimes, liquidations result in the lender having to acquire title to real property or…
SOP 50 10 7 will apply to all SBA loan applications received by the SBA on or after August 1, 2023. SOP 50 10 7 sets forth real…
When financing a commercial condominium purchase, lenders should carefully review all condominium documents and title documents and obtain all necessary title endorsements and insurance. Pertinent condominium documents may include the…
SBA 7(a) loan proceeds may be used for a change of ownership. In many business acquisitions, the buyer purchases all of the seller’s assets. However, that is not always the…
An employee stock ownership plan (“ESOP”) is a type of employee benefit plan in which company stock is acquired by, and held in accounts for, the employees of the company. …