Prior to the closing of an SBA loan, it is critical that lenders obtain appropriate documentation that the borrowing entity is in good standing. The best evidence to confirm active…
As we near the first anniversary of the Paycheck Protection Program (“PPP”), it has become clear that this program was essential in helping millions of small businesses weather the storm…
A startup company may elect to file its preliminary corporate documents, such as the articles of organization (limited liability company) or incorporation (C-corporation), in a state other than the one…
In the most recent iteration of the SOP, the SBA added a provision prohibiting the use of loan proceeds when refinancing interim advances if those advances were made with the…
Philadelphia, PA - CNN interviewed Ethan Smith on the Paycheck Protection Program implemented in response to the Covid-19 pandemic. Ethan gave his insight on fraud committed in the PPP program…
On February 10, 2021 SBA issued Procedural Notice 5000-20092 regarding Revised SBA Paycheck Protection Platform Procedures for Addressing Hold Codes on First Draw PPP Loans and Compliance Check Error Messages…