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…
If you’re a Small Business Administration (“SBA”) lender, add to your list of New Year’s resolutions becoming familiar with Standard Operating Procedure (“SOP”) 50 10 5 (J). Announced October 16,…
In the wake of the catastrophic devastation caused by hurricanes Harvey and Irma, the SBA has coordinated with FEMA to provide disaster assistance to small businesses in affected areas. Under…
Lenders extending financing to franchisees – either to re-finance existing debt or open new facilities – have historically been concerned with determining whether affiliation exists between the franchisor and franchisee.…