The SOP 50 10 7.1 (the “SOP”) contains additional documentation requirements for gas station loans that SBA admits can be “voluminous and complex” for Lenders. This article will…
Since the SBA E-Tran Terms and Conditions no longer contains specific requirements for title insurance, lenders should use prudent lending standards and generally accepted principles of commercial lending…
SBA has dramatically changed the way lenders process franchise loans under the SOP 50 10 7.1 (“SOP”). Lenders no longer need to review franchise documentation for affiliation in…
It has been a longstanding rule that a lender cannot sell a loan on the secondary market if it is not fully disbursed. However, changes in the most…
The general rule is that a purchaser of a business is not liable for seller’s legal obligations unless those obligations are expressly assumed by the purchaser in the…
On May 7, 2024, the Federal Trade Commission published a final rule (the “Rule”) that results in a federal ban on non-compete clauses nationwide, with limited exceptions. The…