When reviewing search results in connection with extending an SBA loan, lenders may come across a recorded Notice of Federal Tax Lien (NFTL) filed against a borrower or guarantor. Understanding…
Our June 15, 2022 article discussing servicing requests involving real estate collateral for SBA loans generated spirited discussion and feedback from several readers. See Best Practices: SBA Loan Servicing Request…
Before any lender may finance an SBA guaranteed loan, it must assure compliance with SBA’s “credit elsewhere test.” Compliance is a critical eligibility prerequisite. The test is foundational and one…
Effective August 31, 2022, SBA published Information Notice 5000-836123, concerning 7(a) Fees Effective October 1, 2022 for Fiscal Year 2023. This article will address items that have changed, specifically with regard…
SBA lenders often take a security interest in all available fixed assets, including real estate owned by the applicant or guarantor, for certain loans, which may include a lien on…
Last revised in 2006, title insurance policy forms and endorsements published by the American Land Title Association (“ALTA”) were published last summer and are slowly being approved and adopted state…