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…
SBA lending, with its myriad rules, regulations and ever-changing guidelines, has always been a challenge for compliance-minded lenders. One of the most difficult SBA topics for lenders to deal with…
One way for borrowers to have a more pleasant loan closing experience and for the lender to see its customer achieve long-term business success is when a borrower chooses to…
With year-end behind us, many of us are now able to find a moment of quiet following the hectic whirlwind that was 2021. The intensity of the past year was…
On September 1, 2021, the Consumer Financial Protection Bureau (CFPB and/or Bureau) issued a notice of proposed rulemaking (NPRM) requesting public comment on its proposed rule to implement Section 1071…
In order to properly document and close an SBA 7(a) loan, lenders must exercise care to ensure that loan proceeds are disbursed in strict accordance with the lender’s credit memo,…