Once a loan is purchased off the secondary market by SBA, lenders must proceed with liquidation before they can request a loan to be charged off. When liquidation…
As we continue highlighting updates to SBA loan programs, we now focus on Chapter 26 of SOP 50 57 3. This chapter covers the duty to report suspected…
Effective August 1, 2023, all SBA 7(a) loans (regardless of when they were originated) are subject to SBA’s SOP 50 57 3. The new SOP includes changes and…
On December 26, 2023 SBA issued SBA Information Notice No. 5000-852422 which announced renewals and updates to certain SBA Forms. The most significant change is the issuance of…
Following a default, Lenders often contend with questions related to whether to file suits against obligors; the need for litigation plans; when to advance expenses; and, what costs can be…
In recent months, the SBA lending community has seen SBA’s lease requirements go through a series of changes, but we may end up close to where we started. …