Pursuant to 13 CFR § 120.160(a), all SBA 7(a) loans must be guaranteed by at least one person or entity. Generally, guarantees are required of any individual or…
It is a fundamental tenet of SBA lending that businesses must be “active” small businesses to be eligible to receive SBA guaranteed loans. SBA lenders should ensure that…
The U.S. Small Business Administration’s 504 Loan Program was created to foster economic development and create or retain job opportunities and stimulate growth, expansion, and modernization of small…
The U.S. Small Business Administration addresses its policies on enforcement of judgments in Chapter 22 of the SOP 50 57 3 (the “SOP”), which is titled Litigation. In…
A crucial step of underwriting and closing an SBA loan is verification of the SBA applicant’s financial information and tax returns. SOP 50 10 7.1 sets forth specific…
SOP 50 10 7.1 has modified requirements on ESOP lending and made it easier for lenders to provide financing to ESOPs and/or financing resulting in the ESOP purchasing…