The amount of PPP loan fraud that has apparently occurred is astonishing. Government investigations have determined that the amount of fraudulent PPP loans is in the tens of billions of…
SBA 7(a) loan proceeds may be used for a change of ownership. In many business acquisitions, the buyer purchases all of the seller’s assets. However, that is not always the…
On November 7, 2022 (Volume 87, No. 66963), the Federal Register contained a Notice of Proposed Rulemaking whereby the Small Business Administration (“SBA”) proposed to remove the requirement for an…
On October 26, 2022 Volume 87, No. 206 of the Federal Register contained a Notice of Proposed Rulemaking on Affiliation and Lending Criteria for the SBA Business Loan Programs. The…
In an effort to meet the “closing deadline” desired by the small business borrower, lenders may feel the need to rush the closing and overlook critical housekeeping steps. When implemented…
On October 5, 2022, the SBA released Procedural Notice 5000-835955 (Extension and Revision of SBA Guidance on Guaranty Purchases and Lender Servicing Responsibilities for PPP Loans) or the “Notice.” The…