Following a loan default, lenders must act swiftly and properly document their files. Often lenders respond with a formal letter addressing a specific demand, whether that be for…
With the issuance of SOP 50 10 8 and subsequent notices on citizenship, Lenders are increasingly evaluating complete divestiture by an owner of an Applicant. Under the current…
Earlier this year SBA Procedural Notice 5000-876626 was published, updating its guidance on applicant ownership and residency requirements for 7(a) and 504 loans. The revised guidance generated numerous…
At Starfield & Smith, we are pleased to announce a new internal initiative dedicated to one of the Firm’s most quietly admired professional skills: checklist design. For years,…
Determining next steps when dealing with an SBA Borrower that is in payment default can be challenging. If the loan is sold on the secondary market, decisive action…
Artificial intelligence is already helping commercial lenders streamline intake, review financial information, detect fraud, summarize documents, and speed routine communications. For SBA lending teams, those efficiencies are attractive,…
