Financing a business acquisition is an eligible use of SBA loan proceeds, provided, that certain conditions are met. SOP 5010(5)(K) states that a business acquisition must result in a 100%…
A Notice of Commencement recorded prior to your mortgage can wreak havoc on your construction loan. In Florida, before any work can begin to improve real property, a Notice of…
The recently revised Standard Operating Procedure 50 10 5(K) (“SOP”) defines the Lender Service Provider (“LSP”) Agreement as “a written contract between a Lender and an Agent who assists the…
The SBA program is deeply rooted in the idea in providing support only to “applicants for whom the desired credit is not otherwise available on reasonable terms from non-Federal sources.”…
Pursuant to the requirements of the Small Business 7(a) Lending Reform Act of 2018, Pub. L. 115-189 (“SBA Reform Act”) that amended the Small Business Act, 15 U.S.C. §651 et…
SOP 50 10 5(K) addresses eligibility issues surrounding Small Business Applicants that are engaged in international business operations who apply for government guaranteed loans under the 7(a) loan program and…