When a commercial loan goes into default, it is not uncommon for the borrower or guarantor (or both!) to enter bankruptcy. A bankruptcy filing by the borrower or guarantor has…

As with most litigation, most of the time and expense is incurred in the pre-trial phase known as discovery. During discovery, the parties to the lawsuit have the opportunity to…

When financing a start-up or business acquisition, lenders typically require a lien on the business assets of the borrower as collateral. If the borrower operates a restaurant serving alcohol or…

According to Chapter 5, Section V of SOP 50 10 5(H), when substantial loan proceeds from a U.S. Small Business Administration guaranteed loan are to be used for leasehold improvements…

One of the most important conditions in underwriting, documenting and properly closing an SBA loan is making sure that the use of loan proceeds complies with, and is subsequently disbursed,…

The last few days before a closing can be a hectic time. Each party has its own responsibilities and everyone must make sure that there is an agreement as to…