Most participating lenders are aware that under the current version of the Standard Operating Procedure 50 10 6 (“SOP”), U.S. Small Business Administration (“SBA”) loan proceeds may be used to…

Legal opinion letters are an integral part of business and commercial transactions and financing. In fact, on large dollar 7(a) loans or complex change of ownership transactions, Lenders often require…

Last October, SBA added a new provision to its SOP prohibiting lenders from using a 7(a) loan to “refinance a short-term obligation that was created with the intent of refinancing…

In these uncertain times, SBA lenders are often overwhelmed by the myriad rules, regulations and guidelines associated with SBA lending. However, by focusing on a handful of core concepts, Lenders…

SBA requires landlord waivers whenever SBA loans are secured with business personal property which is located at a leased location in order to protect the SBA and maximize any recovery…

Effective September 8, 2021, SBA enhanced its COVID-19 Economic Injury Disaster Loan (EIDL) program to assist small businesses to meet their financial obligations and operating expenses despite the suffering created…