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…

On August 1, 2023, the SBA unveiled its new streamlined Guaranty Purchase package.  The new Universal Purchase Package (UPP) now takes the place of the former SBA 10…

Since the SBA 7a program is designed to expand access to capital for small businesses who cannot obtain credit elsewhere, lenders must ensure that all diligence items have…

In response to the COVID-19 pandemic, the Small Business Administration (“SBA”) granted low-interest, long term Economic Injury Disaster Loans (“EIDL”) to millions of small businesses. While the pandemic no longer…