In today’s technological world many small businesses seek to protect their intangible creations, often referred to as intellectual property, by obtaining registered copyrights, trademarks and patents on these items. As…
On last Tuesday’s SBA 7(a) connect call, SBA’s Office of Credit Risk Management updated the 7(a) lending community regarding several new areas of inquiry that it is focusing on in…
On July 1, 2019 the Taxpayer First Act was signed into law. According to the IRS website, “the legislation aims to expand and strengthen taxpayer rights and to reform the…
On November 12, 2019, the SBA’s Office of the Inspector General (OIG) published a report on its Audit of SBA’s Oversight of High-Risk Lenders (Report). While the Report is directed…
One of the basic tenets of SBA lending is that an applicant must be an active operating business. SBA prohibits financing assets that are held for their passive income, with…
When it comes to SBA lending, all participating lenders are no strangers to loan documents that include confession of judgment provisions (“COJ Provisions”). By way of background, COJ Provisions are…