The updated SOP 50 10 8 (“SOP”) has replaced the long-standing “do what you do” flexibility with stricter underwriting expectations, making insurance a more critical component of the…
The SBA’s International Trade Loan (“ITL”) program has recently undergone a meaningful transformation intended to expand opportunities for access to capital. Previously a niche, export-focused product, ITL is…
Following a loan default, lenders must act swiftly and properly document their files. Often lenders respond with a formal letter addressing a specific demand, whether that be for…
With the issuance of SOP 50 10 8 and subsequent notices on citizenship, Lenders are increasingly evaluating complete divestiture by an owner of an Applicant. Under the current…
Earlier this year SBA Procedural Notice 5000-876626 was published, updating its guidance on applicant ownership and residency requirements for 7(a) and 504 loans. The revised guidance generated numerous…
At Starfield & Smith, we are pleased to announce a new internal initiative dedicated to one of the Firm’s most quietly admired professional skills: checklist design. For years,…