Section 4 on page 180 of SOP 50 10 5(J) confirms that SBA Express lenders have authority to make credit decisions for Express loans without prior SBA review. This authority…
Recently, we have been asked if equity injection from an applicant’s corporate affiliate can come in the form of a gift. The short answer is no. In addition to income…
While the following article is based upon the requirements of Florida’s Fictitious Name Act (see Florida Statutes §865.09), most states have their own fictitious name acts which have similar requirements.…
Under certain circumstances, SBA guaranteed loans may be used to refinance existing debt. Such debt may be in the form of short or long term debt structured with a demand…
It is not uncommon for a lender to take a security interest in a deposit account of a borrower as security for a loan. Normally, the lender will maintain the…
All SBA loan applicants and their affiliates must be small, when aggregated together, under SBA size requirements to participate in SBA’s lending programs. In determining whether affiliation exists, SBA analyzes…