So you’ve closed your SBA loan, hopefully in accordance with all SOP requirements, and now you have moved your loan to servicing. It is not uncommon to have borrowers make…
When a Borrower wishes to use funds from a 401(k) plan (the “Plan”) as equity injection on SBA loans, lenders must make sure they are properly documenting the injection and…
The SBA’s credit elsewhere test underpins the 7(a) loan program. Accordingly, failure to comply with the SBA’s credit elsewhere requirements may subject a lender to a denial of the SBA…
It turns out that your English teacher may have been right, after all: a misplaced comma can be a big deal. A Maine dairy company was reminded of the importance…
SBA guaranteed loan proceeds may be used to construct or renovate buildings. The SBA provides specific requirements for SBA guaranteed loans where the construction component of the loan is more…
Lenders extending financing to franchisees – either to re-finance existing debt or open new facilities – have historically been concerned with determining whether affiliation exists between the franchisor and franchisee.…