On December 27, 2020, a new relief bill intended to provide economic support to businesses was passed into law. This bill, entitled the Consolidated Appropriations Act 2021, establishes various programs to provide…
In the midst of the pandemic, lenders are finding that some common collateral structures are presenting new challenges when it comes to Small Business Administration (“SBA”) due diligence requirements and…
Because SBA was ordered to disclose the identities of millions of business owners who took Paycheck Protection Program (“PPP”) loans during the pandemic (after having previously disclosed loan data concerning…
When financing an acquisition of real estate, the closing process will vary based on whether the transaction is consummated by way of a “table” closing or an “escrow” closing. Both…
Effective November 3, 2020, the U.S. Small Business Administration (SBA) announced the update and release of SBA Form 1919, Borrower Information Form. SBA Information Notice 5000-20059. Among other things, the…
Under the CARES Act, SBA has the authority to conduct a review of any loan originated under the Paycheck Protection Program (“PPP”) at its discretion at any time. SBA may…
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