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…
Most, if not all, commercial real estate developments contain covenants, conditions, and restrictions (commonly called "CC&Rs") used to regulate the use, appearance, and maintenance of commercial real property. These CC&Rs…
In the most recent iteration of the SOP, the SBA added a provision prohibiting the use of loan proceeds when refinancing interim advances if those advances were made with the…
Best Practices: Recently Updated SBA Form 1919 Highlights Agency’s Continued Focus on 401(k) Plans
Effective November 3, 2020, the U.S. Small Business Administration (SBA) announced the update and release of SBA Form 1919, Borrower Information Form. SBA Information Notice 5000-20059. Among other things, the…
Third Party Lenders participating in the SBA’s 504 Loan Program should become familiar with new, specific matters that must be included in a CDC’s financial analysis of the borrower and…
While the CARES Act, the First PPP Interim Final Rule and guidance issued by the U.S. Treasury and U.S. Small Business Administration repeatedly state that lenders may rely on representations…