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…

SBA’s guidance on real estate appraisals depends on the type, size and use of the SBA loan proceeds.  This article focuses specifically on the basic commercial real estate…

After loan disbursement, SBA lenders are often asked by borrowers to subordinate the position of a lien securing an SBA loan.  Lenders must consider these subordination requests in…

Although there is no extensive discussion in the SBA’s Standard Operating Procedure 50 10 7.1 (SOP) regarding borrower’s compliance with business license requirements, the SOP does make it…

What is the Beneficial Ownership Information (“BOI”) Reporting Rule? The Financial Crimes Enforcement Network (“FinCEN”) recently implemented significant changes in beneficial ownership reporting, for the purpose of combating…