When an Original Borrower has received a Paycheck Protection Program (“PPP”) Loan and, prior to loan forgiveness, wishes to transfer ownership to a new purchaser, lenders often find themselves uncertain…
On July 28, 2020 SBA issued Procedural Notice 5000-20041 (“PN 20041”) which provides additional guidance to Lenders on implementation of Section 1112 of the CARES Act. Section 1112 provides a subsidy…
This year has brought a lot of uncertainty and SBA lending is no exception. The Paycheck Protection Program (“PPP”) expired on August 8th, and the SBA’s loan forgiveness portal opened…
Third Party Lenders participating in the SBA’s 504 Loan Program should become familiar with new, specific matters that must be included in a CDC’s financial analysis of the borrower and…
While a credit memorandum may primarily be a way for lenders to memorialize their own underwriting of a loan, it is important to keep in mind that this document is…
Although businesses across the country have been affected by the COVID-19 pandemic, many lenders have recently shifted focus from making PPP loans to again making SBA 7(a) loans. Many lenders…