On September 28th, the SBA issued proposed rule RIN: 3245-AG74 (“Proposed Rule”) which proposes several changes to SBA’s current regulations. One such change would affect the type and amount of…
On June 21, 2018, the President signed into law the Small Business 7(a) Lending Oversight Reform Act of 2018 (Public Law No: 115-189, the “Reform Act”). The Reform Act, which…
SBA loan proceeds are frequently used to finance change of ownership transactions. Such change of ownership can be accomplished through either a stock purchase (or redemption) or through a purchase…
Under certain circumstances, SBA guaranteed loans may be used to refinance existing debt. Such debt may be in the form of short or long term debt structured with a demand…
SBA 7(a) loans in an amount greater than $350,000 and which are extended to refinance existing debt “must be secured with at least the same collateral and lien priority as…
A primary reason for a repair of the SBA guaranty is a lender’s failure to obtain the required lien position on collateral. When a lender fails to obtain the required…