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…
On April 29, 2022, the U.S. Small Business Administration announced important changes to the Community Advantage (CA) Pilot Program. 87 FR 25398. The changes take effect on May 31, 2022. …
On January 11, 2022, during the most recent SBA 7(a) Connect Quarterly Update, the Office of Credit Risk Management (OCRM) highlighted issues in all stages of the life of a…
Last October, SBA added a new provision to its SOP prohibiting lenders from using a 7(a) loan to “refinance a short-term obligation that was created with the intent of refinancing…