On May 9, 2023, the SBA issued Procedural Notice 5000-846607 (“SBA Notice”) which addresses the implementation of SBA’s Final Rule on Affiliation and Lending Criteria for the SBA…

Collateral requirements for Standard 7(a) Loans (those greater than $500,00) and 7(a) Small Loans (those under $500,000) will be updated under the new SOP. For 7(a) Small Loans,…

One of SBA’s core requirements for all 7(a) and 504 loans is to verify and document the unavailability of credit on reasonable terms from non-federal, non-state, and non-local…

On May 9, 2023, the SBA issued Procedural Notice 5000-846607 (“SBA Notice”) that revised the guidelines in the SOP 50 10 6 pertaining to equity injection requirements. These…

As we have discussed over our last few articles, the recent rule changes issued on April 10, 2023 altered the affiliation rules to limit the analysis to issues…

Last week in our article, Best Practices: The Affiliation Rule Change, we discussed how lenders are no longer required to review matters of control when performing an affiliation…