The 504 loan program is used to finance fixed assets for eligible small businesses, primarily costs related to the acquisition and/or improvement of real estate or other long-term…
Effective May 30, 2024, the criminal background review process for those applying for SBA guaranteed loans will undergo a significant change. It removes restrictions the SBA deems limit…
As we continue highlighting updates to SBA loan programs, we now focus on Chapter 26 of SOP 50 57 3. This chapter covers the duty to report suspected…
Collateral requirements for Standard 7(a) Loans (those greater than $500,00) and 7(a) Small Loans (those under $500,000) will be updated under the new SOP. For 7(a) Small Loans,…
A growing number of SBA lenders are utilizing electronic signatures on their SBA forms and documents, including loan documents, which require a signature. SBA lenders must be mindful of the…
Last revised in 2006, title insurance policy forms and endorsements published by the American Land Title Association (“ALTA”) were published last summer and are slowly being approved and adopted state…